Note to Bloomberg: Chet Currier is a very smart man.
| Dec 19th, 2006 | Filed under: Portable Alpha & Alpha/Beta Separation, Retail Investing | By: Alpha Male |
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Kudos to Bloomberg’s Chet Currier for shining the spotlight on alpha-centric investing today (“Does Alpha-Beta Spell “The End” for Mutual Funds?“). Reports Currier:
“The very model of a mutual fund is indeed outmoded, argues a large and growing group of financial researchers and professional money managers who are busy describing, building and proselytizing for a different way of doing things.”
The piece goes on to provide a balanced view of this paradigm shift peppered with a dose of skepticism that we believe is healthy when confronting such fundamental change.
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[...] While Bloomberg’s Chet Currier may be right that it will be a number of years before alpha-centric investing truly catches on in the retail investment industry, we believe UMA’s represent a base camp from which alpha-centric investing can scale new heights. [...]
[...] Bloomberg’s Chet Currier is generally in tune with alpha-centric investing.  In a column last fall, he quite correctly observed: “The very model of a mutual fund is indeed outmoded, argues a large and growing group of financial researchers and professional money managers who are busy describing, building and proselytizing for a different way of doing things…The alpha-beta community already has been years in the growing. It will be years more before it penetrates, say, the 401(k) retirement-savings market where mutual funds reign now. But a real challenge has been laid down, and it isn’t going away.†[...]