Better than Alpha – Three Steps to Capturing Excess Returns in a Changing World
A potent new strategy for overcoming the ghost of alpha and creating an investment portfolio that achieves your goals
There is a lot of excitement surrounding the idea of beating markets. Value is what successful investors look for, not “alpha,” and this book helps you find it.
Better Than Alpha gives you the viewpoint, understanding, and resources you need to shift your attention from looking for alpha to taking steps that result in better financial outcomes.
Chris Schelling offers a straightforward three-step approach for improving investment decisions and shows why “beating the markets” tactics are bound to fail: Organization (smart governance), Process (smart habits), and Behavior (smart thinking). He demonstrates why the pursuit of alpha is doomed to fail, how behavioral finance contributes significantly to the loss of time, money, and effort, and—above all—how to steer clear of typical pitfalls and make the most of your efforts.
You’ll learn more about what influences investment returns, how successful investment managers have produced excess returns in the past, and why tactics that were effective in the past might not be appropriate in the present.
Better Than Alpha guides you through the process of reducing the effects of behavioral biases and making decisions that increase the likelihood of achieving your goals, regardless of whether you are in charge of creating revenue streams for pensions, endowments, or foundations; reducing insurance losses; working as an investment consultant; or any other institutional-level investing.
Size : 3.3 MB | English | 2021 | EPUB | 9781264257652