Alternative Investments: Caia Level I

by Donald R. Chambers, Mark J. P. Anson, Keith H. Black

"Alternative CAIA Level I, 4th Edition is the curriculum book for the Chartered Alternative Investment Analyst (CAIA) Level I professional examination. Covering the fundamentals of the alternative investment space, this book helps you build a foundation in alternative investment markets. You'll look closely at the different types of hedge fund strategies and the range of statistics used to define investment performance as you gain a deep familiarity with alternative investment terms and develop the computational ability to solve investment problems. From strategy characteristics to portfolio management strategies, this book contains the core material you will need to succeed on the CAIA Level I exam. This updated fourth edition tracks to the latest version of the exam, and is accompanied by the following a workbook, study guide, learning objectives, and an ethics handbook"--

Genres: Finance

882 pages, Kindle Edition

First published August 18, 2015

About the author

Donald R. Chambers, PhD, CAIA, is the Associate Director of the Level 1 Curriculum at the CAIA Association and is the Walter E. Hanson/KPMG Professor of Finance at Lafayette College in Easton, Pennsylvania. Dr. Chambers previously served as the Director of Alternative Investments at Karpus Investment Management.

Reviews

[Rebecca Clark · Rating 5 out of 5]

this has got to count for something on my reading goals for 2026. took me three months to read, took me another three months to figure out what i was reading.
rated 5 stars to give me good karma for next week. none of my friends should read this unless they want to deeply connect with where i have been for the past 6 months.
if you don’t see me reading level 2 in the future, don’t ask me questions xoxo

[Richard · Rating 5 out of 5]

Builds a solid foundation in alternative investments with a focus on theory without neglecting the quantitative aspects of the calculations.

[Annelise]

I have no shame : I'll count this book in my 2026 challenge.

[Wafed · Rating 5 out of 5]

Despite the fact it is a compulsory reading exercise for CAIA candidates, this book is a MUST read for anyone with interest in the fast emerging, low regulated and disrupting world of Alternative Investment.

This is an in-depth introduction to the alternative asset classes, posed smartly in six parts.
It is surely not for the faint hearted (900+ pages including statistic and fin finance applied to AI!!!), but it takes this much to understand some of what went wrong with the financial and economic world, over the past two decades.

[Christy Matthews · Rating 5 out of 5]

Read this for the CAIA exam. Best book by far (along with the Level 2 version) for a finance exam. Covers meaningful material with real life applications. Includes recent and relevant data and statistics. I used it for work as a reference material for different aspects of alternative Investments.

[Plato So · Rating 4 out of 5]

pretty comprehensive textbook which is really more like a practioners guidebook

[Görkem · Rating 4 out of 5]

Too much details with long reads

[Brendan Chard · Rating 4 out of 5]

One of the easier to read textbooks I have studied from. Looking forward to writing the exam in March!