Hedge Fund Course - Wiley Finance Series

double, 158159
of expenses, 160162
flow-through, 23, 157159
foundations, 47
of gains, 162163
hedge fund as dealer, 161
hedge fund as investor, 160
hedge fund as trader, 160
high-net-worth individuals, 3637
insurance companies, 5152
layered tax allocation, 162163
of losses, 162163
partnerships, 7476
pension funds, 51
of revenues, 161162
sole proprietorship, 74
Tax-deferred retirement accounts, 41,
131
Tax-exempt investors, 132, 204
Tax-free portfolios, 208
Tax liability, Roth IRA, 43
Tax payments, postponing benefits,
41
Tax rates, 38, 66, 171
Tax reporting, 142, 147
Technical analysis, 60
Technology sector, 26
Technology stocks, 26, 88
10-year bonds, 181
Theta, 190
Third-party marketers
advantages of, 196
characterized, 195196
disadvantages of, 196
selection factors, 196
30-year bonds, 183184
Time-weighted returns, calculation of,
116
Top-down investors, 60
Total return swap, 205, 207, 211212
Tracking indexes, 186
Trader, taxation as, 160
Trading volume, 63, 217
Traditional asset management, 60
Traditional IRA, 4142, 4950
Treasury bills, 90, 95
Treasury bonds, 90
Treynor ratio, 122
Trust accounts, 70
Trusts, regulation of, 87
12b-1 fees, 4
Two-asset portfolio, 13
Undervalued stocks, 60
U.S. dollar, 185
U.S. Federal Reserve, see Federal Reserve
U.S. Treasury, 158
Unlevered portfolio, risk in, 97
Unrelated business income tax (UBIT), 48,
51, 131132, 171, 204, 208
Unsecured creditors, 77
Unsettled positions, leverage strategies,
89
Unweighted return, 114
USA Patriot Act (Uniting and Strengthening
America by Providing Appropriate
Tools Required to Intercept and
Obstruct Terrorism Act), 132
Valuation(s), generally
accountant's role in, 150151
fixed income, 179
model, 68
side-pocket allocations, 171172
Value at risk (VaR), 186188
Van Hedge Fund Advisors International,
LLC, 4, 8
Venture capital, benefits of, 137
Venture capital funds
characterized, 56
fees, 6
lockup commitments, 3
regulation of, 2
returns, 6
tax treatment, 3
VIX index, 23, 25, 29
Volatility, impact of, 16, 24, 2829, 31,
3839, 65, 68, 88
Weighted average of returns, 11
Whole-life insurance, 52
Withdrawal, retirement accounts, 4142
Yield, 182
Yield curve, 27
Yield spread, 68
Zero coupon bonds, 209211
Index
285
ccc_mccrary_ind_275-286.qxd 10/6/04 1:47 PM Page 285