Alternatives

This handles alternative investment analysis when you're dealing with hedge funds, private equity, or venture capital questions. It covers the classic strategies (long/short equity, global macro, event-driven), fee structures like 2-and-20 with hurdle rates and high-water marks, and PE-specific metrics including IRR, TVPI, and DPI. The J-curve explanation is solid for understanding early-stage PE fund dynamics. Trigger it when users mention carried interest, capital calls, illiquidity premiums, or vintage year effects. The due diligence section is practical, focusing on operational risk and factor exposure over generic manager evaluation. Useful for financial analysts who need to explain why a 2% management fee plus 20% performance fee can consume 45% of gross returns, or why spreading PE commitments across vintage years matters for risk management.

skills.sh installs: 703
GitHub stars: 224
last updated: Aug 21, 2026

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Install

$ npx -y skills add joellewis/finance_skills --skill alternatives --agent claude-code

Installs into .claude/skills of the current project.

Files

Alternatives

Core Concepts

Hedge Fund Strategies

Long/Short Equity: Combines long positions in undervalued stocks with short positions in overvalued stocks. Net exposure can range from net long to market neutral.
Market Neutral: Targets zero beta to the market. Returns driven by stock selection alpha, not market direction.
Global Macro: Takes positions in currencies, rates, equities, and commodities based on macroeconomic views. Highly discretionary.
Event-Driven: Profits from corporate events — mergers (merger arbitrage), restructurings, spinoffs, bankruptcies.
Relative Value: Exploits pricing discrepancies between related securities (convertible arbitrage, fixed income arbitrage, capital structure arbitrage).
Managed Futures/CTA: Systematic trend-following strategies across futures markets. Historically provide positive convexity (perform well in crises).