[From The Archives] Bill Gross On Consistent Alpha Generation Through Structure

In 2005, Bill Gross wrote a piece for the Financial Analysts Journal 60th anniversary edition entitled Consistent Alpha Generation through Structure, which looked at the role of portfolio structure in achieving outperformance.This is a brief summary of the article in question. Bill Gross: Two key foundations Bill Gross begins by noting that, to be successful in managing money over the long-term, you need to take into account two key foundations. Firstly: “…’a secular outlook’ — that is, a three-year to five-year forecast that forces one to think long term and to avoid the destructive bile arising from the emotional whipsaws…