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,...
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Posts Tagged ‘ alpha ’
A “common sense approach for those who believe in active management”
Does the “wisdom of crowds” produce alpha?
AllAboutAlpha asks if the wisdom of crowds produces an alpha? Too soon to tell, though his thoughts on why it isn’t really a wisdom of crowds approach seem dead on to me. Actually, what it really made me think is, wouldn’t it be cool to be up there on that panel? Alas, I suspect...
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Alpha vs. Beta
One of my favorite people to read is Rob Arnott, who never ceases to examine every truism, shibboleth and academic orthodoxy in the field of finance. What are alpha and beta? Why and when is it important to distinguish between them. All About Alpha reviewed some of his points a little over a year...
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Index Alpha
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...
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All About Alpha’s top posts of 2007
A survey of All About Alpha’s top posts of 2007. Recommended reading by me as well. Download article as PDF
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