THIRD-PARTY RESEARCH

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• Credit Risk Transfer, Hedge Funds, and the Supply of Liquidity.
  Heinz Zimmermann, Professor of Economics and Finance
  University of Basel, Switzerland
  

• Time Frames, Research Quality and Strategy: The Differentiating Factors for CTAs?
  Elliot Noma, Amal Alibair, and William T. Long
  Asset Alliance Corporation
  

• Do Professional Currency Managers Beat the Benchmark?
  Momtchil Pojarliev, Hermes Investment Management Limited
  Richard M. Levich, New York University Stern School of Business
  

• What Happened to the Quants In August 2007?
  Andrew W. Lo, Harris & Harris Group
  Amir E. Khandani, MIT Laboratory for Financial Engineering
  

• Conducting Investment Due Diligence on Active Natural-Resource Managers
  John E. Dunn, III, Oak Point Investments
  

• FUNDCREATOR – Reply to the Critics
  Harry M. Kat, Cass Business School
  Helder P. Palaro, Cass Business School

• Is There Hedge Fund Contagion?
  Nicole M Boyson, Northeastern University
  Christof W. Stahel, George Mason University
  René M. Stulz, Ohio State University

• A Subprimer on Risk
  Christopher C. Finger, RiskMetrics Group

• Trading Strategies in the Current Commodity Market Environment
  Hillary Till, Principal, Premia Capital Management, LLC

• "Carried Away?"
  Christopher C. Finger, RiskMetrics Group

• Survey of Recent Hedge Fund Articles
  Hilary Till, Premia Risk Consultancy, LLC
• Hedge Funds: Myths & Facts
  Ed Easterling, Crestmont Research

• Performance in the Currency Industry - Is the End Nigh?
  Amy Middleton, Bank of America
  
• Replication - Based Evaluation of Hedge Fund Performance
  Harry M. Kat, Cass Business School
  
• Exploring Value in Hedge Fund Lock Ups: A Sector View
  Jeffrey F. Kuchta, CFA
  
• Is The Case For Investing In Commodities Really That Obvious?
  Harry M. Kat, Cass Business School
  
• What Every Investor Should Know About Commodities. Part II: Multivariate Return Analysis
  Harry M. Kat, Cass Business School
  Roel Oomen, Warwick Business School
  
• Absolute Returns in Commodity (Natural Resources) Futures Investments.
  Hilary Till, Premia Capital Management
  Jodie Gunzberg,Ibbotson Associates
  
• Does Optimizing Fund Growth Require Managerial Skill?
  Paul Lajbcygier
  Clayton School of IT, Monash University, Australia
  
• Future Risk
  Christopher Finger, Luis O'Shea
  Riskmetrics
  
• Separating the Wheat from the Chaff: Backwardation as the Long-Term Driver of Commodity Futures Performance.
  Barry Feldman, Russell Investment Group and Prism Analytics
  Hilary Till, Premia Capital
  
• What Every Investor Should Know About Commodities. Part I: Univariate Return Analysis.
  Harry M. Kat, Cass Business School
  Roel C.A. Oomen, Warwick Business School
  
• Superstars or Average Joes? A Replication-Based Performance Evaluation of 1917 Individual Hedge Funds
  Harry M. Kat, Helder P. Palaro
  Cass Business School
  
• Hedge Fund Transparency Increasing, 2005 Hedge Fund Database Study
  Strategic Financial Solutions
  
• Does a Change in Risk Regime Spell Trouble for Hedge Funds?
  Conquest Capital Group LLC
  
• Volatility, Leverage and Returns
  Jan Loeys, Nikolaos Panigirtzoglou
  J.P. Morgan
  
• 2005 Alternative Investor Survey
  Deutsche Bank's Hedge Fund Capital Group
  
• The Right Place for Alternative Betas in Hedge Fund Performance: An Answer to the Capacity Effect Fantasy
  Walter Gehin, Mathieu Vaissie
  Edhec Risk and Asset Management Research Centre
  
• Hedge Fund Returns: You Can Make Them Yourself!
  Harry Kat, Helder P. Palaro
  
• The Big One... The Asian Dollar
  CrossBorder Capital
  
• Is Indexing Suitable for Hedge Fund Investing?
  by Jim Tomeo, Rob Covino, and Brian Chung
  SSaris Advisors, LLC
  
• Hedge Funds Have Alpha is a Hypothesis Worth Testing
  by Ron Surz
  PPCA
  
• The Scrap Steel Standard
  CrossBorder Capital
  
• On The Role Of Hedge Funds In Institutional Portfolios
  by Hilary Till
  Premia Risk Consultancy, Inc.
  
• Investable Hedge Fund Indices
  Jacobson Fund Managers Ltd
  
• The Role of Long/Short Equity Hedge Funds in Investment Portfolios
  by R. McFall Lamm, Jr.
  DB Absolute Return Strategies
  
• The Capacity Implications of the Search for Alpha
  by Hilary Till
  Premia Risk Consultancy, Inc.
  
• Facts and Fantasies About Commodity Futures
  by K. Geert Rouwenhorst, Gary Gorton
  Yale School of Management, University of Pennsylvania
  
• Fund of Hedge Funds Portfolio Selection: A Multiple-Objective Approach
  by Ryan J. Davies, Harry M. Kat, and Sa Lu
  
• Weighing the Cost of Illiquidity
  by Hilary Till
  Premia Capital Management
• Regulatory Analysis of Use of Security Futures Products by Investment Advisers, Investment Companies, Hedge Funds, Commodity Pools and Commodity Trading Advisors
  by David Matteson
  Gardner Carton & Douglas
• Managed Futures Can Save Your Tail
  by Steven Koomar
  KV1 Asset Management LLC
• Hedge Fund Performance and Persistence in Bull and Bear Markets
  by Daniel Capocci, Albert Corhay, and Georges Hubner
  University of Liege (Belgium)
• The Continuing Case for Emerging Markets
  Everest Capital
• Alternative RAPMs for Alternative Investments
  by Milind Sharma
  Merrill Lynch
• Beware of Systematic Style Biases
  by Marc Goodman, Kenneth Shewer & Richard Horvitz
  Kenmar Global Investment
• Squeezing the Best from Hedge Fund Diversification
  by Marc Goodman, Kenneth Shewer & Richard Horvitz
  Kenmar Global Investment
• What Drives Hedge Fund Returns?
  by Michael Howell
  CrossBorder Capital Limited
• Hedge Funds Selling Beta As Alpha
  by Greg Jansen
  Bridgewater Associates
• Commentary on the Japanese Market
  by Nick Bullman
  Chairman of Investor Select Advisors
• Is Asset Allocation Still Working?
  by Edgar E. Peters
  Panagora Asset Management
• Timing Multiple Markets: Theory and Evidence
  by George O. Aragon
  The Wallace E. Carroll School of Management - Boston College
• Portfolio Optimization and Hedge Fund Style Allocation Decisions
  by Noël Amenc and Lionel Martellin
  EDHEC Risk and Asset Management Research Centre
• The Brave New World of Hedge Fund Indices
  by Noël Amenc and Lionel Martellin
  EDHEC Risk and Asset Management Research Centre
• The Pros and Cons of 'Drawdown' as a Measure of Risk for Investments
  by David Harding, Georgia Nakou and Ali Nejjar
  Winton Capital Management
• Trend Following: Performance, Risk, and Correlation Characteristics
  by Michael S. Rulle
  President of Graham Capital Management
• Risk Considerations Unique to Hedge Funds
  by Hilary Till
  Premia Capital Management
• Managed Futures and Hedge Funds: A Match Made in Heaven
  by Harry M. Kat
  The University of Reading (UK)
• Hedge Fund Diversification : How Much Is Enough?
  by François-Serge Lhabitant and Michelle Learned
  Thunderbird, the American Graduate School of International Management
• Managed Futures: A Real Alternative
  by Gildo Lungarella
  Harcourt AG
• Hedge Funds with Style
  by Stephen J. Brown
  NYU Stern School of Business
  and
  William N. Goetzmann
  Yale School of Management
• Stocks, Bonds and Hedge Funds : Not a Free Lunch!
  by Guarav S. Amin and Harry M. Kat
  The University of Reading (UK)
• Returns-Based Analyses of Hedge Funds
  by Hillary Till
  Premia Capital Management
• How to Incorporate Hedge Funds and Active Portfolio Management into an Asset Allocation Framework
  by Brett H. Wander and Dennis M. Bein
  Analytic Investors
• Tail or Dog - The Pond's Getting Crowded
  by Steve Galbraith and Mary Viviano
  Morgan Stanley
• Traditional Long-Only Managers Move Into Hedge Fund Arena
  RoundTable Panelists:
  Mark Anson (CalPERS)
  Jeffrey James (Driehaus Capital Management)
  Paul Wick (J&W Seligman & Co.)
• A Risk Too Big to Comprehend
  by Jonathan Spring
• Measure for Measure
  by Hillary Till
• A Mutually Rewarding Enterprise?
  by Randy Warsager
• Are Investors Over-Invested In Equities?
  by Professor Fernando Diz
  Syracuse University
• Managed Futures: Out of Favor, or Outta Here?
  by Brad Cole
  President, Cole Partners
  Chicago, Illinois
• Managing Investor Drawdowns Through a Risk Control Plan:
  A New Model for Evaluating Manager Performance
  by Tushar Chande
  President, LongView Capital Management, L.L.C.
• The Benefits of a Long Volatility Investment Approach in a Multi-Fund Portfolio:
  by Alan R. Kaufman
  Chief Investment Officer, Trilogy Capital Management Group, L.L.C.
• Risk Management:
  A Practical Approach to Managing a Portfolio of Hedge Funds
  for a Large Insurance Company
  by Norman Chait, CFA
  AIG Global Investment Corporation