July 2007
Beginner
312 pages
7h 8m
English
book
Hedge Fund Risk Fundamentals: Solving the Risk Management and Transparency Challenge
by Richard Horwitz, Ramon Koss
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CHAPTER 9
Non-Market Risk Management
This book primarily focuses on market risk, risks related to the market performance of the holdings in the portfolio. These are the only risks for which the market compensates investors. In Chapter 8, the unique personality risks related to hedge funds are discussed. However, these risks manifest themselves through poor performance and, as such, should be viewed as a type of market risk. Unfortunately, there are myriad other uncompensated risks that can result in losses. These risks include:
- Fraud
- Errors
- Business interruption
- Embezzlement
- Forced liquidations
- Credit losses
- Misvaluations
In a recent research paper entitled “Understanding and Mitigating Operational Risk in Hedge Fund Investments,”1 a proprietary ...
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