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Exotic Alternative Investments
Standalone Characteristics, Unique Risks and Portfolio Effects
By Kevin R. Mirabile
This book evaluates new opportunities such as life settlements, litigation funding, farmlands, royalties, weather derivatives, collectables and other unique asset classes. It provides an in-depth analysis of the returns, risks, opportunities and portfolio effects for investors, advisors and academics and anyone who wants to expand their investment horizons.
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About This Book
This book evaluates exotic alternative investment opportunities such as life settlements, litigation funding, farmlands, royalties, weather derivatives, collectables and other unique asset classes. It provides an in-depth analysis of the returns, risks, opportunities and portfolio effects for anyone who wants to expand their investment horizons. This book is for individual investors, financial advisors and academics who desire knowledge about investment products beyond just stocks and bonds or vanilla hedge funds, private equity and real estate investments. It provides a critical link to industry data and original research to support the case for adding exotic alternative investments to traditional portfolios.
The book includes an analysis of returns and risk from a wide range of direct investments in individual exotic asset classes as well as from investing in public shares and ETFs. It also includes a section on how these exotic investments performed relative to both traditional and alternative investments like hedge funds both before and after the Spring 2020 market crash.
The book is an excellent tool for practitioners wishing to understand the rationale and impact of allocating capital to these exotic and less-understood investment opportunities.
Reviews
“Over the coming years we will experience the greatest generational wealth transfer in US history, at a time when the range of investor options and interests will only widen. Kevin Mirabile has provided an excellent risk-based foundation to these very unique asset classes.” —William J. Kelly, CEO and President, CAIA Association
“Kevin Mirabile provides unique insights into exotic alternative investments based on his extensive work experience as well as deep academic understanding of these strategies’ sources of risk and return. This book is a must read for those investing in exotic alternatives.”—Steve Turi, Chief Investment Officer and Managing Partner, SkyView Investment Advisors, LLC
“The exotic alternative markets Kevin describes reminds me of the hedge fund industry 25 years ago—niche strategies run by a small group of domain experts. If you want to participate in these opportunities now, this book is an exceptional starting point. The perfect investment book—Kevin explains why these new opportunities exist, who is exploiting them now, what could go wrong and how you can get involved. —Kevin Coldiron, Finance Lecturer, Haas School of Business, U.C. Berkeley
“Kevin Mirabile offers an accessible primer demystifying a set of alternative investments once thought of as esoteric and available only to the most sophisticated investors. He succinctly describes the opportunities and risks associated with them and, importantly, offers practical examples of how they can diversify and improve investor portfolio performance.” —David F. McCarthy, Principal, D.F. McCarthy LLC
Author Information
Kevin R. Mirabile is a clinical associate professor of finance at Fordham University where he teaches courses on the principles of finance, investment analysis, derivatives and alternative investing. He has authored articles and books on hedge funds and alternative investments.
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Table of Contents
List of Illustrations; Preface; Chapter One Introduction; Chapter Two Artwork and Art Finance; Chapter Three Life Settlements; Chapter Four Litigation Finance; Chapter Five Intellectual Property; Chapter Six Insurance-Linked Securities and Weather Derivatives; Chapter Seven Tax Liens, Tax Credits, Aircraft Leases, Storage Units and Trade Claims; Chapter Eight eSports, Gaming, Franchises and Entertainment; Chapter Nine Farmland, Timber, Water Rights and Air Rights; Chapter Ten Cannabis and Alternative Medicines; Chapter Eleven Cryptoassets; Chapter Twelve Collectibles; Chapter Thirteen Investor Perspectives and Insights; Chapter Fourteen Portfolio Return and Risk Using Exotic Alternative Investments; Chapter Fifteen Final Thoughts on Exotic Alternative Investing; Appendix 1 Master Exotic Alternatives Composite Constituents Data; Appendix 2 IBISWorld Reports Index; Glossary; Index.
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