Facile Synthesis of Fe₂O₃ Nanocrystals without Fe(CO)₅ Precursor and One‐Pot Synthesis of Highly Fluorescent Fe₂O₃–CdSe Nanocomposites

γ-Fe2O3 nanocrystals are synthesized in high yield (2 g) without a hazardous precursor and with a less-expensive oxidant in a one-pot synthesis (see figure). Bifunctional magnetic quantum-dot (γ-Fe2O3–CdSe) nanocomposites are also synthesized in high yield, with a photoluminescence quantum yield of up to 42%.