Look beyond volatility for risk assessment
Investors considering hedge funds should look beyond volatility and take the largest drawdown figures into account when assessing the riskiness of different asset classes, according to speakers at Hedgeworld 2003.
Speakers at the event last week said volatility statistics provided an incomplete picture of risk. 'Volatility is important as a measure, but both the maximum drawdown and loss are vital. Here you see various patterns developing in different asset classes,' said Michael Azlen, managing
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