| 04.02.2009 Opalesque Exclusive: Alpha or beta, investors shifting from concentration on performance to concentration on risk, liquidity and type of performance driver of managers |
| From Kirsten Bischoff, Opalesque New York: It may be that the term alpha, very much like the hedge fund industry itself, grew to include things it was never meant to. "Many strategies engage in essentially - banking - where the manager borrows money short term and invests in illiquid things. These managers are then securing liquidity premia for these illiquid investments," David DeMers, Managin |
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