This discussion serves as an introduction to alternative investments, targeting both institutional and retail investors, particularly those pursuing the CFA (or CAIA) designation. It defines alternative investments by what they are not (traditional stocks and bonds) and by what they are (hedge funds, real assets, private equity, etc.). The material explores the debate around including alternative investments in portfolios, touching on the historical limitations faced by retail investors and the emergence of liquid alternatives. It also examines various fund types like private funds, 40' Act funds, and separately managed accounts. The study guide outlines key differences between alternative and traditional investments, like uncorrelated returns and illiquidity, and provides resources for further study and project work.

This podcast is an independent production and is not affiliated with or endorsed by any third-party entities unless explicitly stated. The content is for educational and informational purposes only and does not constitute financial, investment, legal, or professional advice. Listeners should consult qualified professionals before making any decisions based on this content.

This episode is based on the first chapter of my book, Alternative Investments: Expanding Frontiers (soon to be released on LeanPub.com), and was generated using Notebook LM and other AI tools. While I have reviewed the content for accuracy, it may still contain errors, inaccuracies, or omissions. Neither the producers nor any affiliates accept liability for any damages or losses arising from the use or interpretation of this content.

By listening, you acknowledge that the information provided is subject to change and should not be solely relied upon for decision-making.