The Incredible Shrinking Alpha, 2E
Publisher,Harriman House
Publication Date,
Format, Paperback
Weight,
No. of Pages, 220
Active managers persistently lag the returns of benchmarks and index funds that track them, with the excuses for underperformance recycled every year. This comprehensive book is the antidote for the active managers' siren song. If you understand the benefits of indexing, or systematic investing, it will reinforce your commitment while increasing your knowledge.
If you don't yet believe, Swedroe and Berkin provide a compelling case that you're playing the loser's game of active management. Alpha, or outperformance against appropriate risk-adjusted benchmarks, is shrinking as it gets converted into beta, or factor exposures. They demonstrate that even for the most talented managers, their ability to add value is waning because: the amount of alpha available is declining; it must be split among an increasing amount of investment dollars; and the competition is getting tougher.
About the Author
Andrew Berkin, Ph.D., is head of research and oversees the development and implementation of Bridgeway's statistically driven, evidence-based efforts. Andrew joined Bridgeway in 2013. Prior to joining Bridgeway, Andrew was co-chief investment officer and director of research for Vericimetry Advisors and director of the quantitative research group at First Quadrant. Andrew has published articles in peer reviewed journals and co-authored two books. He is a reviewer for and served on the editorial board of the Financial Analysts Journal. Andrew earned his Bachelor of Science with honors in physics from the California Institute of Technology and a Doctor of Philosophy in physics from the University of Texas.
- Dimensions : 6.3 x 0.49 x 8.36 inches
