Lars Jaeger is to be congratulated for taking the mystique out of alternative investment strategies and putting sound risk management methodology into its place. I am convinced that this book will become the prime reference on AIS for many years to come." Paul Embrechts, Professor of Insurance Mathematics, ETH Zurich "More and more investment professionals see alternative investment strategies as a new paradigm in asset management. However, press coverage suggests that the hedge funds bubble has not yet burst. The hedge fund area has traditionally been shrouded in myth and misrepresentation. Managing Risk in Alternative Investment Strategies provides what is desperately needed: transparency." Alexander M. Ineichen, CFA, Managing Director, UBS Warburg, London "The hedge fund industry is attracting more and more interest after the disappointing performance of financial markets. Lars Jaeger's book clearly and concisely presents the issues and sheds much needed light on this industry. His rigorous description of the most advanced risk management techniques and their application to the hedge funds makes it an indispensable tool for professional investors who want to venture in this field." Dr. Michel M. Dacorogna, Manager Financial Analysis and Risk Modeling, Converium Ltd "Risk management and transparency have become key issues for portfolio managers and investors interested in alternative investment strategies. Lars Jaeger finally gives a much needed, clear and practical, treatment on risk management principles for hedge funds and managed futures. This book is a must read for anyone interested in this rapidly growing investment area" Dr. Dan Rosen, VP Research and New Solutions, Algorithmics Alternative Investment Strategies, such as hedge funds, can enhance returns and reduce risk of a global investment portfolio. However, managing their ¿risk dimension¿ is critical to success. Managing Risk in Alternative Investment Strategies provides insight into the latest thinking about hedge funds and hedge fund risk management, elaborating on ways to approach some of the main problems and obstacles of this new investment class.
The 70 years from 1880 to 1950 witnessed the final ascent of humankind into the modern age. Historically, this period is characterized by deep political, social and economic crises. However, parallel to this and much less known in the public, rational scientific thinking also experienced the darkest and deepest crisis of its own history. All the great modern scientific discoveries like quantum theory, genetics and neurology are products of this. Ground-breaking discoveries, profound crises, revolutionary thoughts, refutation of previously unshakable beliefs - these years are marked by scientific achievements of numerous great minds, who overturned our understanding of the world, of space, time and infinity, of life, logic and calculability almost overnight. The "intuitive genius" of these pioneers still forms the foundation of today’s scientific thinking and technological progress. In fact, tackling and overcoming those deep scientific crises shaped our modern life like nothing else. The resulting reorientation of our understanding of nature and ourselves allowed ancient philosophical questions to appear in a new light: "What is reality?", "What can we know about the world?" or "What is man's place in nature?". The most exciting period in the history of science is retold here in an entertaining way.
There s a buzzword that has quickly captured the imagination of product providers and investors alike: "hedge fund replication". In the broadest sense, replicating hedge fund strategies means replicating their return sources and corresponding risk exposures. However, there still lacks a coherent picture on what hedge fund replication means in practice, what its premises are, how to distinguish di erent approaches, and where this can lead us to. Serving as a handbook for replicating the returns of hedge funds at considerably lower cost, Alternative Beta Strategies and Hedge Fund Replication provides a unique focus on replication, explaining along the way the return sources of hedge funds, and their systematic risks, that make replication possible. It explains the background to the new discussion on hedge fund replication and how to derive the returns of many hedge fund strategies at much lower cost, it differentiates the various underlying approaches and explains how hedge fund replication can improve your own investment process into hedge funds. Written by the well known Hedge Fund expert and author Lars Jaeger, the book is divided into three sections: Hedge Fund Background, Return Sources, and Replication Techniques. Section one provides a short course in what hedge funds actually are and how they operate, arming the reader with the background knowledge required for the rest of the book. Section two illuminates the sources from which hedge funds derive their returns and shows that the majority of hedge fund returns derive from systematic risk exposure rather than manager "Alpha". Section three presents various approaches to replicating hedge fund returns by presenting the first and second generation of hedge fund replication products, points out the pitfalls and strengths of the various approaches and illustrates the mathematical concepts that underlie them. With hedge fund replication going mainstream, this book provides clear guidance on the topic to maximise returns.
Although women participated in shaping scientific thinking from the outset, they very rarely became visible. This imbalance continues today, although there are currently more female scientists than ever before. Lars Jaeger spans an arc from antiquity to the present day and portrays the lives and work of the most important female scientists and mathematicians in essay-like introductions. From Hypatia of Alexandria to Emmy Noether and Lisa Randall, they have all achieved great things, decisively advanced science and yet often could not step out of the shadow of their male colleagues. In addition to the exciting portraits of the individual women scientists, the book also sheds light on gender relations in science and their agonisingly slow evolution in favour of women.
This book tells the story of the second quantum revolution which will shape the 21st century as much as the first quantum revolution shaped the 20th century. It provides unique orientation in today's discussion and the latest progress on the interpretation of quantum physics and its further technological potential. As you read this book the first prototypes of this revolution are being built in laboratories worldwide. Super-technologies such as nanotechnology, quantum computers, quantum information processing, and others will soon shape our daily lives, even if physicists themselves continue to disagree on how to interpret the central theory of modern physics. The book will thus also touch on the profound philosophical questions at the heart of quantum mechanics.
Floods, species extinction, migration, droughts, super tornadoes - climate change is no longer a threat looming on the horizon but has long since become part of our everyday lives. Limiting the emerging and worsening climate changes is one of the most important challenges of our time. All human induced climate impacts can be traced back to a single factor: Energy. This book provides a comprehensive and readable introduction to the interplay between energy and climate, which also includes the fields of technology, economics, and politics. At the same time, the issue is highly complex and can only be understood in all its details by expert scientists, meaning that the facts are often poorly presented in the political discussion about climate. To put it simply: If we want to stop and even reverse the current climate trends, we need to find answers to the following three questions: · How exactly does our existing way of consuming energy affect the climate? · What options are there for generating energy without negative climate effects, and what do these mean for our lives? · What technological advances will directly help us to achieve this in future? In a non-alarmist yet entertaining manner, the book highlights the key determinants of global energy supply. Readers will come to appreciate the crucial facts about "energy and climate", will be up to date with the latest scientific and technological knowledge, and will understand the global political and economic framework that we need to consider when designing an appropriate future energy and climate policy. At the same time, the author conveys a clear and optimistic message: We already have the technical capabilities (which will be further enhanced in the future) to reverse the devastating climate trends without significantly limiting prosperity. The obstacles lie primarily in economic and political "constraints" and particular conflicts of interest. “A very important book that explains one of the most essential questions of our time - how we can master climate change by an energy transition - with scientific precision and clear words.” Georg Kell, founder and former Executive Director of the United Nations Global Compact
This book charts the evolution of the sciences and technologies that have shaped our modern age like nothing else in the last 60 years. As well as describing many exciting developments, it will also highlight the challenges and dangers of the technologies that have emerged from them. While science and technology have brought about enormous and often astonishing improvements in our quality of life, they have often also brought with them considerable risks, including the risk of human extinction. We place particular emphasis on the aspects that directly impact us as human beings: Artificial Intelligence (AI), enhancements of our brains/minds through innovative neuro-technologies, and the integration of nanotechnology into our bodies for early disease detection and elimination. What philosophical implications arise from these transformations? Authored by two theoretical physicists who are also experts in economics and capital markets - a rather rare combination - the book will explain the developments of modern science and the resulting technologies. It also examines the current state of play and emerging developments in a manner accessible to non-scientists. Based on their own experience and the analysis, the authors also propose ways in which science can progress more harmoniously in future.
This book makes essential reading for all financial professionals who work with or allocate assets to hedge funds, including private and institutional investors, fund of funds managers, hedge funds managers themselves, brokers, administrators and custodians. Also helpful to anyone addressing the challenges of hedge funds, including traditional asset managers, financial analysis, consultants and advisors.
The second edition of one of the clearest and most readable discussions of hedge fund strategies of the last few years. Understand how the various hedge fund strategies make money, how the systematic returns of the hedge funds can be replicated, and how this understanding can improve our investment process into hedge funds.
Thrillermesteren Lars Kepler er tilbage med det syvende bind i serien om kriminalkommissær Joona Linna. En død mand bliver fundet i en lejlighed i Oslo. Da politiet åbner køkkenets fryser, gør de et gruopvækkende fund. Ofret viser sig at være en hidtil ukendt gravskænder og trofæsamler. Nogle dage senere kontakter en tysk kommissær Joona Linna og beder om hjælp til en mordsag på en campingplads uden for Rostock. Joona forstår, at mønstret, som viser sig, er sindssygt og samtidig umuligt at ignorere. Nogle vil kalde det et mirakel, at man genopstår fra de døde – andre vil kalde det et mareridt.
The Grail is neither a secret, a world treasure in the shape of a cup, a specific mortal woman, nor a hidden, chosen family. The Grail is a state of heart and mind! An old Spanish manuscript is given to Lars, and for two years it lies untouched in his office until one day the sun falls upon the book and Lars is drawn to pick it up once again. The pages reveal symbols and signs that he had not previously seen, and so begins the final part of his journey to discover the importance of the feminine archetype for our times. His travels take him to the caves of the holy mountain of Montsegur and on to the Southern Pyrenees and Mary Magdalene’s secret cave near Perillos. During his travels Lars meets a nameless Being of Light who presents him with the answers to many of today’s spiritual dogmas.
This book tells the story of the second quantum revolution which will shape the 21st century as much as the first quantum revolution shaped the 20th century. It provides unique orientation in today's discussion and the latest progress on the interpretation of quantum physics and its further technological potential. As you read this book the first prototypes of this revolution are being built in laboratories worldwide. Super-technologies such as nanotechnology, quantum computers, quantum information processing, and others will soon shape our daily lives, even if physicists themselves continue to disagree on how to interpret the central theory of modern physics. The book will thus also touch on the profound philosophical questions at the heart of quantum mechanics.
This impressively comprehensive volume is a long-awaited and worthy successor to the now outdated 1978 classic, Evolution of African Mammals. A must-have reference work for everyone interested in mammalian evolution." David Pilbeam, Harvard University and the Peabody Museum of Archaeology and Ethnology --
In this book Lars Hermanson discusses how religious beliefs and norms steered attitudes to friendship and love, and how these ways of thinking also affected people’s social identity and political action behaviour in medieval Northern Europe, c. 1000-1200.
Over the past generation, the practice of legal nurse consulting has grown to include areas such as life care planning, risk management, and administrative law, as well as taking on a more diversified role in both criminal and civil law and courtroom proceedings. First published in 1997, Legal Nurse Consulting, Principles and Practices provided pro
This book provides a general overview of syngas technologies as well as an in-depth analysis of the steam reforming process. Syngas is a mixture of hydrogen and carbon oxides which can be made from hydrocarbons, coal and biomass. It is an important intermediate in the chemical industry for manufacture of ammonia, methanol and other petrochemicals as well as hydrogen for refineries and fuel cells. Syngas is playing a growing role in the energy sector, because it can be converted into a number of important energy carriers and fuels. Syngas catalysis creates new options and flexibility in the complex energy network. The steam reforming process is the main technology today for manufacture of syngas. It is a complex intern-mingling of catalysis and heat transfer with restrictions caused by secondary phenomena such as carbon formation. Many of the principles are applicable for other gasification technologies of growing importance. Concepts of Syngas Preparation aims to provide a comprehensive introduction to this complex field of growing importance and gives a detailed analysis of the catalyst and process problems. This book also serves as an important link between science and industry by illustrating how the basic principles can be applied to solve design issues and operational problems./a
Provides an engaging and clearly structured source of information on the capture and storage of CO2 Designed to bridge the gap between the many disciplines involved in carbon dioxide emission management, this book provides a comprehensive yet easy-to-understand introduction to the subject of CO2 capture. Fit for graduate students, practicing process engineers, and others interested in the subject, it offers a clear understanding and overview of thermal power plants in particular and of carbon dioxide capture and storage (CCS) in general. Carbon Dioxide Emission Management in Power Generation starts with a discussion of the greenhouse effect, climate change, and CO2 emissions as the rationale for the concept of CCS. It then looks at the long-term storage of CO2. A chapter covering different fossil fuels, their usage, and properties comes next, followed by sections on: CO2 generation, usage and properties; power plant technologies; theory of gas separation; power plant efficiency calculations; and classification of CO2 capture methods. Other chapters examine: CO2 capture by gas absorption and other gas separation methods; removing carbon from the fuel; pre- and post-combustion CO2 capture in power cycles; and oxy-combustion CO2 capture in power cycles. -Discusses both CO2 capture technologies as well as power generation technologies -Bridges the gap between many different disciplines?from scientists, geologists and engineers, to economists -One of the few books that covers all the different sciences involved in the capture and storage of CO2 -Introduces the topic and provides useful information to the academic as well as professional reader Carbon Dioxide Emission Management in Power Generation is an excellent book for students who are interested in CO2 capture and storage, as well as for chemists in industry, environmental chemists, chemical engineers, geochemists, and geologists.
The 2008-2009 market meltdown and house price collapse has resetthe credit and property cycles, and smart investors are now lookingfor the upside. But Where Will the Next Bull Runs Come From, and How CanInvestors Take Advantage? The world is now facing staggering change, including exponentialperformance growth in many technologies. We can expect computersthat are smarter than people, self-driven cars and a trulyintelligent Internet. We are also facing a biotechnologicalrevolution enabling personalized medicine, fourth generationbiofuels, radical extension of human life expectancy, exponentialgrowth in farm yields, and even the recreation of extinct species.Furthermore, our energy sector is facing a complete transformationwhich will eventually make our energy supply limitless. Meanwhile,our population will grow, age and urbanize, and - largely due toemerging market growth – global purchasing power will havequadrupled by 2050. What will this mean for commodity prices, theenvironment and growth sectors such as real estate, global financeand luxury? Supertrends explains not only what will happen, but alsohow and why. Having himself run several hugely profitable fundsthrough seeking out long term opportunities and having set up andsold several award winning technology and new media companies,author Lars Tvede shows readers how to identify and profit from theinvestment opportunities of the future. If you need to be preparedfor the rest of your life, this is the book for you.
Computational welding mechanics (CWM) provides an important technique for modelling welding processes. Welding simulations are a key tool in improving the design and control of welding processes and the performance of welded components or structures. CWM can be used to model phenomena such as heat generation, thermal stresses and large plastic deformations of components or structures. It also has a wider application in modelling thermomechanical and microstructural phenomena in metals. This important book reviews the principles, methods and applications of CWM. The book begins by discussing the physics of welding before going on to review modelling methods and options as well as validation techniques. It also reviews applications in areas such as fatigue, buckling and deformation, improved service life of components and process optimisation. Some of the numerical methods described in the book are illustrated using software available from the author which allows readers to explore CWM in more depth. Computational welding mechanics is a standard work for welding engineers and all those researching welding processes and wider thermomechanical and microstructural phenomena in metals. Highlights the principles, methods and applications of CWM Discusses the physics of welding Assesses modelling methods and validation techniques
This book represents the first recent attempt to provide a comprehensive treatment of Sweden's economic development since the middle of the 18th century. It traces the rapid industrialisation, the political currents and the social ambitions, that transformed Sweden from a backward agrarian economy into what is now regarded by many as a model welfar
This is the first book for the new Series Contemporary Issues in Physical Therapy and Rehabilitation Medicine. This textbook will assess both clinical and research aspects of the diagnosis and management of two highly prevalent headache disorders: tension-type and cervicogenic headaches. This textbook will cover both physical therapy and physical medicine approaches to the management of these headache disorders.
Postoperative Pain: Science and Clinical Practice compiles the proceedings of the November, 2013 IASP Research Symposium on Operative Pain into one convenient volume, giving you clinically relevant and research-driven information on the state of the art in postoperative pain. Global experts from the IASP provide practical knowledge on everything from basic research in animals to human research on clinical questions of diagnosis and treatment – information that’s ideal for pain researchers and clinicians who deal with perioperative pain.
The properties of a material depend not only on the specific atoms and molecules it contains, but also on the arrangement of these in space. Many of these three-dimensional arrangements are described as "3D-nets" or "3D-networks". Molecule-Based Materials: The Structural Network Approach is about the synthesis, description, nomenclature and analysis of such nets and the relation of the nets to the physical properties of the materials. It introduces the mathematics, and includes a short guide to programs useful for retrieving, analysing and naming nets. Complete with illustrations and examples of coordination polymer and hydrogen bonded nets, this unique easy-to-read book examines all aspects of 3D nets and will undeniably prove itself valuable to newcomers, well-seasoned students and researchers working in crystallography, inorganic or organic chemistry. * Covers all aspects of molecule-based 3D nets, complete with 3D illustrations * Contains summary tables of all nets* Easy reading eliminates the need for background knowledge in crystallography or mathematics
The second novel in the internationally bestselling Sister Bells trilogy, an epic, moving, and gloriously told historical novel following The Bell in the Lake, an Indie Next pick The second novel in Lars Mytting’s powerful and compelling Sister Bells trilogy, The Reindeer Hunters is both a sequel to The Bell in the Lake and a stand-alone novel. Set again in fictional Butangen, Norway, where the story of the conjoined twin sisters Halfrid and Gunhild Hekne provides the mythical and mystical undergirding, The Reindeer Hunters unfolds around the extraordinary tapestry that portrays the sisters’ vision of Doomsday. After their death in 1613, the tapestry was given to the village church and lost at some point over the centuries. The year is 1903. Twenty-two years after the events of The Bell in The Lake, Astrid Hekne’s son, Jehans, is now a young man. Driven out by his family, he lives on a homestead in the mountains near the village of Butangen, where he relishes the freedom of his life apart, fishing and hunting for his livelihood. One August morning, Jehans kills a massive reindeer and at the same moment encounters an enigmatic hunter . . . At the new church in Butangen, Pastor Kai Schweigaard is living with the consequences of his past betrayal––arranging the dismantling and sale of the stave church––including deaths and the loss of the church’s mystical sister bells. Kai becomes obsessed with finding the ancient tapestry woven by the conjoined sisters in whose memory the bells were cast, with the hope that the tapestry will bring him redemption. Despite the unraveling legends from the past that continue to haunt these people, they must figure out how to look to the future. A magnificent story about love, sorrow, and courage, as well as taming waterfalls and the first flash of electric light in the village night, The Reindeer Hunters is a grand and thrilling novel about what it takes to live in and embrace a new era.
As East Asia is entering the 21st Century, Japan, in reassessing its security environment and thus its strategic calculus, is on the verge of deploying latest jointly-researched theater missile defenses (TMD) to counter the threat of ballistic and cruise missiles. In parallel, the People's Republic of China is constantly modernizing its ballistic missile forces and is gearing up for a possible contingency with its self-proclaimed "high-tech adversaries". This work shows what drives Japan to deploy theater missile defenses and how the People's Republic of China is poised to be reacting to it.
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