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 ‘ benchmarks ’
A “common sense approach for those who believe in active management”
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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