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January 09, 2008

Comments

Evan Vaughan

As a hedge fund manager myself I agree with you, alpha is elusive. However, whenever a fund does well, the PM always says it is due to beta....it just means you're as good as the market. And most people aren't in the game for the money, they enjoy beeting the next guy. Only a handful of managers, mostly global macro, will admit to returns coming from beta. Only b/c they can get away with it.

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