If there is one thing investment managers agree on, regardless of vehicle, it is the value of diversification, which is experiencing new importance in an era of negative to flat equity returns. But the definition of diversification can vary significantly. Who's who in managed money in many ways depends on which definition a firm uses. Agreat deal of time and energy has been spent battling the myth that alternative invest-ments as a rule are much more risky than traditional long-only investments. This prejudice persists despite overwhelming evidence to the contrary, evidence that is starting to change the look of managed money.
展开▼
