REFLECTIONS - Alpha Hunters and Beta Grazers - The search for incremental returns -- "alphas" in current parlance -- Has become the holy grail of active investment. This article begins by drawing a distinction between two broad classes of alphas: (1) "allocation alphas" that are broadly available, on a non-zero-sum basis, by moving the strategic portfolio toward a more balanced return-risk ...
Year of publication: |
2005
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Authors: | Leibowitz, Martin L. |
Published in: |
Financial analysts' journal : FAJ. - Charlottesville, Va : CFA Institute, ISSN 0015-198X, ZDB-ID 2194090. - Vol. 61.2005, 5, p. 32-39
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