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Why do you believe “alpha” can be isolated and ported

Friday, September 05, 2008
"...we would suggest that the half-life of alpha continues to shorten at an increasing rate.".

A SQUARE :: 05Sep08 Why do you believe “alpha” can be isolated and ported
Category Extraction
Author Sona Blessing
To a large degree this decay is driven by the expanding number of managers targeting the same alphas; a great example might be in strategies such as merger and convertible arbitrage. At the same time, capital market inefficiencies and anomalies will continue to emerge and evolve which can create new alphas.
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