systematic risk is highly nonlinear in extreme scenarios-especially during the subprime crisis. We find that countercyclical …-traditional risk premia by deliberately increasing their systematic risk while the later focus more on minimizing risk. Our results … suggest that the hedge fund strategies' betas respond more to illiquidity uncertainty than to illiquidity risk during crises …

, political radicalization--virtually, everywhere we look there is mayhem bearing down on us, putting trillions of assets at risk … be detected. Chief among these risk prognosticators is Didier Sornette, a colorful French mathematician who enjoys riding …