Winning with Liquid Alternatives: How to Achieve Your Financial Goals by Investing in ’40 Act Mutual Funds by Dr. Norman Mains is the first comprehensive guide to liquid-alternative investments. The book was published by McGraw-Hill in April, 2014, and is available in both hard-copy and ebook format on Amazon and through other distributors.
Author Norman Mains, Ph.D., has more than 15 years of experience in researching and creating liquid alternative investments. He is the managing director, chief administrative officer, and chief risk officer for Forward Management, LLC, and is a former executive director and chief investment officer for Morgan Stanely’s Graystone Research. While at Graystone, Mains and his team created customized alternative-investment solutions for high-net worth and institutional clients. Now Forward Management, LLC seeks to offer similar investment strategies to individual investors.
Mains says he wrote Winning with Liquid Alternatives “to help fill the gap” between the interest in liquid alternatives and understanding of them. Between 2003 and 2013, investments in liquid alternatives soared from $19.7 billion to $264.1 billion, according to Morningstar, but Mains says surveys show investors have “little understanding” of what liquid alternatives are all about. “Investors need to know that liquid alternatives can help them build more all-weather portfolios with a higher probability of achieving their long-term objectives,” says Mains.
Winning with Liquid Alternatives explains liquid alternatives in an “action-oriented” manner, describing how individual investors can use “liquid alts” to emulate the sophisticated techniques used by hedge funds and other institutional investors. Before the development of liquid-alt funds, these strategies were only available to accredited investors with over $1 million in net assets (excluding primary residence) or at least $200,000 per year in annual income. Liquid-alt funds comply with all SEC regulations; specifically the Investment Act of 1940, which is referenced by name in the title of Mains’ book.
Winning with Liquid Alternatives can be purchased at Amazon.com. As an accompaniment for the book, Forward has also prepared a white paper titled “UnderstandingLiquid Alternatives” that provides an overview of the market for liquid alternative and how they can be used in a portfolio.
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