In their Little Book of Alternative Investments, Ben Stein and Phil DeMuth bring their approachable style and wit to the investing world beyond stocks and bonds. For individual investors unfamiliar with the terminology and strategies of this part of the investing landscape, Stein and DeMuth provide an accessible overview, as well as suggesting ways that small investors can explore these realms. For everyone who has heard the hype and wondered what it all means, this book provides a readable and entertaining first step in coming to grips with alternative investment options.
Introduction:
Are You Alternative? Dare to Expose Yourself. Let’s talk about you.Be honest—you’re tired of the same old up-and-down from your “missionary position” 60/40 stock and bond portfolio. You read about people who are experimenting with alternatives, and wonder—should you do it, too? Can it be wrong, if all the cool kids are doing it? Especially, the rich cool kids? Certainly you don’t want to get hurt, and you don’t want to hurt anyone else. But you’re curious. You’ve felt the attraction, and even though you’ve tried to fight it, it’s not letting you go.
If you wanted to give the alternative investing lifestyle a spin, where would you start? Most of these investments are complicated and confusing, especially if you skipped graduate school that year. Meanwhile, the managers who specialize in them all talk to each other but rarely to outsiders. By law, hedge funds aren’t even allowed to advertise, so they don’t have a massive advertising budget devoted to reaching out and educating the high-net-worth about features and benefits. It’s like you have to know somebody to get in.
Curious? That’s where The Little Book of Alternative Investing comes in. Consider this little book to be your personal how-to Kama Sutra investment manual. We are going to rip off the plain brown wrapper and show you some new positions to try. We’re going to take you on a tour through these strange and luxuriant jungle offerings, explain in plain English how they work, and tell you how to use them in the privacy of your own portfolio. We’re going to take you for a walk on the wild side in a world where deviations are standard and returns are total. All set? Strap yourself in, hang on tight, and get ready for the ride of your life.
Contents:
- Everything You Know Is Wrong
- Efficient Market Theory and Its Discontents
- Collectibles as Investments
- More Alternatives We Don’t Love
- Conventional Alternatives I: Commodities
- Conventional Alternatives II: Real Estate
- The Ultimate Alternative Investments
- So Why Invest in Hedge Funds?
- A Field Guide to Hedge Funds
- One-Fund Solutions
- Hedge Funds Pigs in Mutual Fund Blankets
- Adding Alternative Investments to Your Portfolio
The Little Book of Alternative Investments: Reaping Rewards by Daring to be Different By Ben Stein, Phil DeMuth pdf
