The Myth of Portable Alpha

There is a decent piece in the N.Y. Times today on the myth of “portable alpha” (juicing an ordinary stock or bond index with something that (theoretically) increases returns) in hedge fund portfolio construction. About the only thing that’s truly portable in money management is fees on a fool’s money.


  1. Here’s my two cents on “portable alpha”:
    I think it tells people what they need to know, only a little more directly than the NYT.