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Opalesque Campus: Top Hedge Fund Academic - Operational Due Diligence as a Source of Alpha

Feb 02 2012 4 Comments
In this Opalesque.TV interview, Professor Stephen Brown describes how his recent research reports into operational due diligence have shown that operational risk is the “disease” that plagues hedge funds and funds of funds, and accounts for low market-adjusted returns along with many of the fund failures that occurred in 2008. While financial risk is a “symptom” of the disease, operational risk is more predictive of fund failure than is financial risk. Prof. Brown’s evidence points to his conclusion that due diligence is a source of alpha.
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Please use the comment feature below for your feedback, or email me at knab@opalesque.com. Thank you!

Matthias Knab Posted On Feb 02 2012

Dear Vincent:

Thank you so much for your interest.

All of my current research on this topic is collected together on my website at

www.stern.nyu.edu/~sbrown

under the Recent Research tab and can be downloaded without charge from there.

Stephen

Stephen Brown Posted On Feb 03 2012

Hi Vincent,

Stephen Brown's most recent research reports that are referenced in the video are listed below. Note that some are still unpublished, as soon as they are out we would cover them on Opalesque:

Mandatory Disclosure and Operational Risk: Evidence from Hedge Fund Registration, with William Goetzmann, Bing Liang and Christopher Schwarz, Journal of Finance 2008

Trust and Delegation, with William Goetzmann, Bing Liang and Christopher Schwarz, Journal of Financial Economics 2012 (forthcoming)

Is it Possible to Overdiversify? The Case of Funds of Hedge Funds, with Greg Gregoriou and Razvan Pascalau, Review of Asset Pricing Studies 2012 (forthcoming)

Matthias Knab Posted On Feb 06 2012

Matthias,

Thanks for this interesting live comments from Pr Brown. I aldready knew his work & research as a practionner of ODD but surely live comments are more than welcomed!
Would the all NYU presentation be available ? if so, where ? we got some extracts details in the interview only...

Vincent

Vincent DELARUE Posted On Feb 03 2012

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