However, data deficiencies in the reporting and collection of hedge fund returns somewhat reduce confidence in all
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However, data deficiencies in the reporting and collection of hedge fund returns somewhat reduce confidence in all measures of hedge fund performance. Further, the inability to explain returns of individual hedge funds with standard multifactor risk models leaves open the possibility that it is not possible to properly measure the risk associated with at least some hedge fund strategies. If so, risk-adjusted returns earned by hedge funds may be overstated. LO.1
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Financial Markets And Institutions
ISBN: 9781259919718
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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