Is Alpha Dead?Guest Post
Is Alpha Dead? by Maz Jadallah, AlphaClone
Life is hard if you’re a stock picker. Really hard. Active fund average annualized returns have lagged further and further behind their passive benchmarks for the domestic large cap and small cap equity categories (Figure 1).
Analyzing hedge fund and institutional portfolios tells the same story. A naïve strategy that follows the twenty largest holdings quarterly (equal . . .
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