Alternative Investments
Also called: alternatives, alts, private markets
Alternatives are investments outside listed stocks, bonds and cash: private equity, hedge funds, venture capital, property, infrastructure, commodities, collectibles. The pitch is diversification and access to returns unavailable in public markets. The costs are fees measured in whole percentage points, lock-ups of years, and valuations that are estimated rather than observed — which flatters reported volatility, since an asset that isn't priced daily can't appear to fall daily.
Where this is taught
Definitions are the trailer. These free levels turn Alternative Investments into something you play — one bite-size lesson, with worked examples, a quiz and XP.