Scott Powell – Hedge Fund Fundamentals – CFI Education

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Exploring the Essential Features of “Scott Powell – Hedge Fund Fundamentals – CFI Education”

Hedge Fund Fundamentals

In Capital Markets, many of the best and the brightest aspire to work in a hedge fund. Get yourself started and pry open the covers to learn about this exciting industry.

• Explore how hedge funds are organized
• Understand how and why hedge fund managers are so well paid
• Discover the investment strategies that hedge funds employ

Overview

Hedge Fund Fundamentals Course Overview

This course covers a comprehensive overview of hedge funds. You will learn the common characteristics of hedge funds, how they are structured, and the mechanics of management and performance fees. You will also learn to measure performance using metrics such as the Sharpe and information ratios. Lastly, the course provides insight into several hedge fund strategies: directional, arbitrage, or global macro. After completing this course, you will better understand the hedge fund universe and its role in the financial markets.

Hedge Fund Fundamentals Learning Objectives

Upon completing this course, you will be able to:

• Define the characteristics associated with a typical hedge fund
• Describe the structure of a hedge fund, the services it requires, and the investors it attracts
• Calculate management and performance fees based on high-water mark and hurdle clauses
• Assess hedge fund performance using key metrics such as the Sharpe and information ratios
• Understand the short-selling process and long/short equity strategies
• Identify fixed income arbitrage and event-driven strategy opportunities

Who should take this course?

This introductory hedge fund course is perfect for anyone interested in learning a comprehensive overview of hedge funds. These types of funds are becoming increasingly popular, so it’s essential to understand the role these institutions play in the financial markets. Anyone interested in a career in the capital markets should ensure they understand how hedge funds operate, how they are structured, and how they impact the markets.

What you’ll learn

Course Introduction
Course Introduction 
Learning Objectives 
Downloadable Files

Hedge Fund Overview
What Is a Hedge Fund
Hedge Funds vs. Traditional Funds 
Alfred Jones’ Fund
Interactive Exercise 1
Leverage Overview
Leverage Example
Interactive Exercise 2

Hedge Fund Structures
Hedge Fund vs. Corporate Structure
LPs and GPs
Interactive Exercise 3
Hedge Fund Management Company
Hedge Fund Manager Background
Prime Services
Executing Broker
Interactive Exercise 4
Offshore and Mirror Funds
Funds of Hedge Funds
Limited Partner’s Interest Example
Redemptions, Liquidity and Restrictions
Interactive Exercise 5
Hedge Fund Fees
Management Fee Example
High-Water Mark
High-Water Mark Example
Hurdle Rate
Hurdle Rate Example
Interactive Exercise 6
Fund Fee & Ownership Calculators
Midway Check In

Performance Measurement
Sharpe Ratio Introduction
Sharpe Ratio Example
Information Ratio Example
Interactive Exercise 7
Which Fund (Sharpe Ratio)
Which Fund (Information Ratio)
Sharpe & Information Ratio Calculators

Directional Strategies
Short Strategy
Covered vs. Naked Short
Short Selling Risks
Long and Short Equity Overview
Pairs Trading
Long and Short Equity Mechanics
Interactive Exercise 8
Convergence vs. Divergence
Long and Short Question 1
Long and Short Answer 1
Long and Short Question 2
Long and Short Answer 2
Long & Short Calculator

Arbitrage Strategies
Fixed Income Arbitrage Overview
Yield-Curve Arbitrage Example
Treasury Arbitrage Overview
Treasury Arbitrage Example
Treasury Arbitrage Answer
Leverage in Arbitrage Trading
Interactive Exercise 9

Event-Driven Strategies
Global Macro Strategy Overview
Global Macro Strategy Example
Global Macro Strategy Example Profit

Course Summary
Course Summary

Qualified Assessment
Qualified Assessment

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