Graduation Year

Fall 2013

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Darren Filson

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© 2013 Travis Tunnell

Abstract

The Hedge fund industry has grown significantly over the past 20 years, and is considered by many to be a part of the optimal portfolio. Using a Market Model, l created the optimal Markowitz portfolio over different business cycles to determine which hedge fund strategies are a part of the optimal portfolio. I determined that Distressed Credit Fixed Income hedge funds are optimal during bull markets, with no strategy being optimal during bear markets.

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