Alpha Wounds: A Lack of Diversity in the Human Resources Portfolio

Posted by Jason Apollo Voss on Sep 22, 2015 in Alpha Wounds, Best of the Blog, Blog | 0 comments For the last several months, I have discussed reasons why active investment managers underperform their passive investment manager competition. Alpha wounds discussed so far include navigating toward benchmarks instead of away from them — shame on you active managers! — and the use of inappropriate measures of success – shame on you investment industry adjuncts! This month I turn to a problem...
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Alpha Wounds: Bad Adjunct Methodologies

Posted by Jason Apollo Voss on Sep 2, 2015 in Alpha Wounds, Best of the Blog, Blog | 0 comments Active management has taken a lot of body blows recently. The principal criticism: Active managers contribute no alpha once their fees are factored in. So is it time to write active management’s obituary? Not quite. But active management certainly is feeling pain. A few weeks ago, I argued that many of the alpha wounds plaguing active management are self-inflicted. But this month, I will...
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Alpha Wounds: Benchmark Tail Wags the Portfolio Management Dog

Posted by Jason Apollo Voss on Jul 28, 2015 in Alpha Wounds, Best of the Blog, Blog | 0 comments Active management is under siege from many corners, including passive investment advocates, robo-advisers, academics, and individual investors. The narrative, of course, is that active managers add no alpha after fees. Is active management dead? Hardly. But active management is certainly wounded. And many of these alpha wounds are self-inflicted. This and other forthcoming articles will seek to...
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XBRL Will Change Your Research Analyst Life

Posted by Jason Apollo Voss on Jun 24, 2015 in Blog | 0 comments XBRL, short for eXtensible business reporting language, is a global digital standard for exchanging business information. In the financial community analysts are most likely to experience its power when working with financial statements. This is because many of the major global securities regulators (e.g., the US Securities and Exchange Commission (SEC)) require reporting of financial results...
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