(Smart Money) — During the stock market’s recent swoon, J.J. Burns has been getting the same message from his clients. “Keep me out of the stock market,” they tell the New York–based adviser. But they also have another request: “Make me money in the market if it soars.” So Burns, who manages more than $300 million for clients, says he’s become a quick study on so-called alternative-investment mutual funds, products that seem to use every strategy invented except the one most of his clients are used to: buying and holding stocks. He’s attended seminars, read fund literature and even called pals who went to the Massachusetts Institute of Technology to help him figure them out. And slowly, he’s warming up to this newfangled form of investing. “They can be a way to stay in the stock market, safely,” he says.
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