Capturing Political Alpha
|May 23rd, 2010 | Filed under: CAPM / Alpha Theory, Today's Post | By: Guest||
By: Miran Ahmad, CAIA, AllAboutAlpha.com Editorial Board
When it comes to investing, it is indeed All About Alpha. Jane Li’s post on these pages ‘Examining “Real Alpha” and “Exotic Beta” in Mutual Funds’ serves as an excellent starting point for the case that asset managers can still create bona fide alpha over their passive-only counterparts. But what about political alpha?
What is political alpha? It is the additional returns generated by an active investment manager assessing, navigating and positioning investments to benefit from the political landscape and impact of political legislation and regulation. Political alpha can be seen as a subset in the overall alpha-generating space.
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