Financial Rounds

The finance classroom meets the outside world (and vice-versa). Back away slowly from the computer with your hands up and your mind open, and with luck nobody gets hurt.

Showing posts with label Alpha. Show all posts
Showing posts with label Alpha. Show all posts
Friday, September 04, 2009

You Can't Measure Alpha Independent of Risk

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When I teach investments, there's always a section on market efficiency. A key point I try to make is that any test of market efficien...
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