Lance on May 05 2008 | Filed under: Alternative strategies, benchmarks
That is All About Alpha’s assessment of 130/30 funds (definition here.) Which seems about right to us.
Few active managers, even if they actually outperform their benchmarks, can overcome the expenses associated with doing so. The reason is not necessarily that they cannot do a good enough job of picking investments that can outperform, but that [...]
Lance on Feb 03 2008 | Filed under: Hedge Funds, benchmarks, indexes
Index investing is often described as “passive” or “beta” investing. However, one thing that is often looked past is exactly how active the construction process of indexes is in practice. Steve Galbraith used to say when I, and he, was with Morgan Stanley (before he went to manage money with Maverick Capital) that buying S&P500 [...]
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