Winning With Liquid Alternatives: How to Achieve Your Financial Goals by Investing in ’40 Act Alternative Mutual Funds

Authoritative perspective on the history and application of liquid alternatives (alternative mutual funds). The author discusses not only what they are, but how they can be used to compliment the overall portfolio. Good read for those interested in exploring the space.

The writing style and the content were very high-style academic in nature. The definitions are very complex and I did not understand much of what the author was attempting to put forth. The "liquid alternatives" are especially not liquid as they belong in a portfolio as a risk flattener, not a strategy that could be said to "win" as a short term interpretation. It certainly does not belong on a list of popular investment books. It does belong on a reading list in a graduate course in finance and to be available on university library shelves. The main lesson I obtained from reading much of the book is that, before an investor buys into the '40 Act strategies, he/she had better find a fund manager with a long record of successful investing and a recognized reputation with a seasoned understanding of financial markets.

Superb read. Easy to understand a complex subject

In full disclosure, I know the author - Dr. Norman Mains. He was my boss at Morgan Stanley, and had hired me to join that firm. I always enjoyed working with and for Norman - he's intelligent, insightful, and with integrity. So it wasn't much of a surprise to me that this book is so good. His book "Winning with Liquid Alternatives" is very timely, and an important one for financial literature.Since the financial crisis of 2008, one of the biggest developments has been the "collision of worlds" of long-only traditional investments, and hedge fund alternative investments. The 40-Act Alternative Mutual Funds has grown enormously the past few years, and it has changed the landscape of investing (and of the mindset of many hedge fund managers).Dr. Mains writes in an accessible, yet insightful manner. This book is valuable to both the beginner curious to learn more, and the expert practitioner. Indeed, the amount of material packed in this book is impressive; the author does a great job of showing the connections between different topics. This book has duality in being practical and educational. It also has a duality in being both very relevant (at the frontier of finance), and giving some of the history as well. It is clear that the author has wisdom that was gained through excellent industry experience, as well as knowing the relevant academic literature.The topic of this book is at the frontier of finance, but as mentioned earlier, is self-contained. Good MBA programs, and Finance programs should add this book to its curriculum, as should the CFA Institute and CAIA. Those, either from the long-only or hedge fund world would be wise to read this tremendous book. Young professionals will gain a ton of knowledge that could translate into better results in any of research, portfolio construction, product development, or business development.It is a book that can be read quickly, but one which gains insights, ideas, and knowledge. I highly recommend it.

I recently read this on a quick flight, as someone who invests on their own for the past few years, I have been looking for guidance in alternative investments. I found that the author was able to articulate how I can diversify into other types of products other then bond, stock funds and etfs. I am always trying to learn more in this area, and I think this book can shed some light in this field for those who are also looking to enter into alternatives.

The author of this book is an authority on alternative investments. This book is an invaluable addition to bridge the alternative investment strategies with the mutual fund world. HIghly recommend.

This is the ultimate Primer for Hedge Funds, as well as their newer entrant, Liquid Alts.Norman has a unique perspective coming from his time at The Volker Fed, his time at Drexel, The MERC, Graystone, and of course FORWARD