Performance evaluation of alternative assets is complicated by the liquidity premia, reporting biases, and unreliable market valuations
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Performance evaluation of alternative assets is complicated by the liquidity premia, reporting biases, and unreliable market valuations of infrequently traded assets. Performance evaluation is particularly difficult when a fund engages in option positions. Tail events make it hard to assess the true performance of positions without extremely long histories of returns.
P-68
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ISE Investments
ISBN: 9781266085963
13th International Edition
Authors: Zvi Bodie, Alex Kane, Alan Marcus
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