Long/Short Funds Tend to be more 'Marketing of Beta', not 'Alpha' Businesses – Jim Chanos

Long/Short Funds Tend to be more ‘Marketing of Beta’, not ‘Alpha’ Businesses – Jim Chanos by TheLongShortTrader Straight from the Horse’s mouth (i.e. Jim Chanos): I view macro and short selling as skill-based or alpha businesses, whereas equity long/short hedge funds tend to be more of a “marketing of beta” business. I am always amazed that investors will  pay 2 and 20 for a manager that is always net long. I have been saying that for 20 years. It is interesting because I run an alpha-based business and I  am more sensitive to it than others. I sit on investment committees…