Virtual funds


What if investors could find a cheap proxy for hedge fund investments, thus avoiding due diligence expense and the risk of doing business with the next Michael Berger? Several academics – including Arjen Siegmann and Andre Lucas at Amsterdam’s Vrije University, and Duke University’s David Hsieh – have described hedge fund performance in option-theoretic terms. This research has recently led investors to consider options trading as an alternative to hedge fund investment, according to some de