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Preface

When I was approached to submit an outline to McGraw-Hill for a book, I’ll admit that I was a little intimidated. However, after giving the subject a little thought, I realized that my topic, the rise of Liquid, or Investment Company Act of 1940 (’40 Act) Alternatives, had mostly occurred during my career in financial markets. Moreover, my various professional positions had given me a somewhat unique vantage point on their creation as one of the most important developments in contemporary financial history. So let’s begin at the beginning.

After studying economics as an undergraduate at the University of Colorado in Boulder, I applied ...

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