Investment Strategies of Hedge Funds

Acknowledgments

My special thanks go to my wife Silvia for her patience, insight and encouragement, and to my parents Carlo and Laura and my grandmother Dina, without whose help this book would never have been written.

I would like to thank Giovanni Maggi, Stefano Ticozzi and Davide Elli, my colleagues in Aletti Gestielle Alternative SGR, for reviewing the drafts of my book. In particular, I thank Davide Elli for helping me with the description of trading examples and with volatility trading, and Stefano Ticozzi for having helped me find all the Bloomberg pictures for this book.

I am grateful to Bruno Redini, consultant with Aletti Gestielle Alternative SGR, for helping me correct the book’s drafts and for his invaluable comments.

I would like to thank François-Serge Lhabitant, Professor of Finance at Edhec in Paris and at the Ecole des Hautes Etudes Commerciales of the Lausanne University, for his advice on the work’s structure; Alessandro Fassò, Professor of Statistics at the Faculty of Engineering with the University of Bergamo, for helping me with the statistical analysis of hedge fund index performances; and many hedge fund managers for helping me assemble trading examples.

Over the years, I have had the privilege of meeting a group of exceptional hedge fund managers: I would like to thank each of them for helping me understand their working approach.

It is evident that any mistakes in the book are the author’s sole responsibility.