Despite the growth in hedge funds, these alternatives to investments correlated with traditional asset classes, are not easily defined. Bali (business administration, Georgetown U., Washington,
DC ); Atilgan (international relations, Sabanci U., Istanbul, Turkey); and Demirtas (finance, New York U.) present an overview of how hedge funds have performed over the past 20 years. They
discuss present risk and return characteristics for a wide range of hedge fund indices; fund databases and their biases; changes in performance in the recent global financial crisis; and
linkages between index returns and macroeconomic factors. Annotation ©2013 Book News, Inc., Portland, OR (booknews.com)
