INVESTOR ATTITUDES, NOT ECONOMIC INFORMATION, DRIVE ASSET VALUESDIVERSIFICATION ACROSS DOMESTIC OR INTERNATIONAL EQUITY SECURITIES IS SUFFICIENTHISTORICAL SECURITY AND INDEX PERFORMANCE PROVIDES A SIMPLE MEANS TO FORECAST ...RECENT MANAGER FUND RETURN PERFORMANCE PROVIDES THE BEST FORECAST OF FUTURE RETURNSUPERIOR MANAGERS OR SUPERIOR INVESTMENT IDEAS DO NOT EXISTPERFORMANCE ANALYTICS PROVIDE A COMPLETE MEANS TO DETERMINE BETTER PERFORMING MANAGERSTRADITIONAL ASSETS REFLECT “ACTUAL VALUES” BETTER THAN ALTERNATIVE INVESTMENTSSTOCK AND BOND INVESTMENT MEANS INVESTORS HAVE NO DERIVATIVES EXPOSURESTOCK AND BOND INVESTMENT REMOVES INVESTOR CONCERNS AS TO LEVERAGEGIVEN THE EFFICIENCY OF THE STOCK AND BOND MARKETS, MANAGERS PROVIDE NO USEFUL SERVICEINVESTORS CAN RELY ON ACADEMICS AND INVESTMENT PROFESSIONALS TO PROVIDE ...ALTERNATIVE ASSETS ARE RISKIER THAN EQUITY AND FIXED INCOME SECURITIESALTERNATIVE ASSETS SUCH AS HEDGE FUNDS ARE ABSOLUTE RETURN VEHICLESALTERNATIVE INVESTMENTS SUCH AS HEDGE FUNDS ARE UNIQUE IN THEIR INVESTMENT STRATEGIESHEDGE FUNDS ARE BLACK BOX TRADING SYSTEMS UNINTELLIGIBLE TO INVESTORSHEDGE FUNDS ARE TRADERS, NOT INVESTMENT MANAGERSALTERNATIVE INVESTMENT STRATEGIES ARE SO UNIQUE THAT THEY CANNOT BE REPLICATEDIT MAKES LITTLE DIFFERENCE WHICH TRADITIONAL OR ALTERNATIVE INDICES ARE USED IN ...MODERN PORTFOLIO THEORY IS TOO SIMPLISTIC TO DEAL WITH PRIVATE EQUITY, REAL ...NOTES