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The Quest for Alpha

Author: Larry E. Swedroe

Publisher: John Wiley & Sons

Published: 2011-02-08

Total Pages: 208

ISBN-13: 0470926546

The final word on passive vs. active investing The debate on active investing-stock picking and market timing-versus passive investing-markets are highly efficient and almost impossible to outperform-has raged for decades. Which side is right? In The Quest for Alpha: The Holy Grail of Investing, author Larry E. Swedroe puts an end to the debate, proving once and for all that active investing is likely to prove futile as the associated expenses-costs, fees, and time spent analyzing individual stocks and the overall market-are likely to exceed any benefits gained. The book Presents research, data, and quotations that reveal it's extremely difficult to outperform the market Explains why investors should focus on asset allocation, fund construction, costs, tax efficiency, and the building of a globally diversified portfolio that minimizes, if not eliminates, the taking of idiosyncratic, uncompensated risks Other titles by Swedroe: The Only Guide to Alternative Investments You'll Ever Need and The Only Guide You'll Ever Need for the Right Financial Plan Investors are on a never-ending search for a money manager who will deliver returns above the appropriate risk-adjusted benchmark, aka the "Holy Grail of Investing." The Quest for Alpha demonstrates that it's a loser's game-while it's possible to win, it's so unlikely that you shouldn't try.

The Unrules

Author: Igor Tulchinsky

Publisher: John Wiley & Sons

Published: 2018-09-24

Total Pages: 160

ISBN-13: 1119372100

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Learn from a master of quantitative finance the rules that made him a success. The UnRules presents the dynamic rules for success in the age of exponential information. Written by Igor Tulchinsky, the trader behind global quantitative investment management firm WorldQuant, this book is more than just another Big Data guide for financial wonks — it’s a prescriptive, inspirational book for everyone navigating the tidal waves of the information age. Data is everywhere, coming at us in a never-ceasing, ever-rising river that threatens to overwhelm us. Tulchinsky shows us, however, how natural patterns underlie that data — patterns that may dictate life or death, success or failure. The marriage of man and machines has allowed scientists to explore increasingly complex worlds, to predict outcomes and eventualities. This book demonstrates how to exercise real intelligence by discerning the patterns that surround us every day and how to leverage this information into success in the workplace and beyond. Igor Tulchinsky has spent his career discerning meaningful patterns in information. For decades, Tulchinsky has been at the forefront of developing predictive trading algorithms known as alphas — a quest that has led Tulchinsky to explore the nature of markets, the fundamentals of risk and reward, and the science behind complex nonlinear systems. Tulchinsky explains what we know of these systems, both natural and man-made, in accessible and personal terms, and he shares how alphas have driven his success as an investor and shaped his central “UnRule,” which is that no rule applies in every case. As markets evolve, even the most effective trading algorithms weaken over time. Decades of creating successful alphas — and learning how to effectively transform them into strategies — have taught Tulchinsky about the need to combine flexibility and focus, discipline and creativity when building complex models. At a time when data and computing power are exploding exponentially, The UnRules provides an expert introduction to our increasingly quantitative world.

Active Alpha

Author: Alan H. Dorsey

Publisher: John Wiley & Sons

Published: 2011-07-12

Total Pages: 451

ISBN-13: 1118161149

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Praise for Active Alpha "Active alpha is the quest for every sophisticated investor. This book covers all of the key alpha sources currently mined by active managers, reduces the complexity of the subject, and helps the investor get started in the right direction." -Mark Anson, Chief Executive Officer, Hermes Pensions Management Ltd. "Long-held traditional methods for investing large portfolios are giving way to new processes that are designed to improve productivity and diversification. These changes find their locus in the sometimes overly mysterious world of absolute return strategies. In this book, Alan Dorsey demystifies that new world and provides a guiding pathway into the future of professional portfolio management. This is an important read for any investor who plans to succeed going forward." -Britt Harris, Chief Investment Officer, Teacher Retirement System of Texas "With great lucidity, Alan Dorsey's book, Active Alpha, fills an important void by identifying the relevant institutional features of this complex subject and by providing a unifying analytic framework for understanding and constructing portfolios of alternative assets. For anyone investing in the alternative class, from the new student to the experienced practitioner, Active Alpha is a necessary read. I am recommending it to everyone I know with such an interest, and it is destined to become a much thumbed reference on my shelf." -Steve Ross, Franco Modigliani Professor of Financial Economics, Sloan School, MIT

AlphaBit

Author: Chronicle Books

Publisher: Chronicle Books

Published: 2019-08-27

Total Pages: 37

ISBN-13: 1797203088

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Inspired by classic video games of the '80s and '90s, this clever board book sets out to level up the ABCs. Within these pages lies an alphabet adventure, rendered entirely in striking 8-bit artwork. Young gamers will love guiding their daring hero through the story to learn new words, discover hidden pictures, and find the missing treasure in an epic quest that will have kids and adults ready to press restart!

Alpha Erased

Author: Aileen Erin

Publisher: Ink Monster LLC

Published: 2020-05-12

Total Pages: 356

ISBN-13: 1943858926

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Don’t miss Tessa and Dastien in the exciting finale of the USA Today Alpha Girls series. Tessa—part witch, part werewolf, raised human and now the unofficial leader of a newly minted supernatural alliance—gets a distressing call from her brother, Axel, in the middle of the night. Tessa and her mate, Dastien, race to save Axel, but Tessa's learned that nothing is ever easy in the supernatural world. She has seconds to make a choice, but there’s only one thing Tessa can do to save the two most important men in her life—sacrifice herself. The last thing Dastien hears from Tessa was her plea—help Axel. But then their bond goes silent. He can’t hear her. He can’t feel her. And there’s no sign of the attackers who took her. Dastien does everything he can to save Axel before calling his friends in a panic but when Dastien’s finally reunited with her, there’s no sign of recognition in her eyes. No magic in her touch. No wolf beneath the surface. Everything that made Tessa who she was...has been erased. “I love this series. I just think that it keeps getting better and better.” — A Reader Lives A Thousand Lives “I have enjoyed every minute of this book and will read what ever Aileen Erin wants to write at this point.” - Smada’s Book Smack hr It’s time to binge the complete Alpha Girls series! Book 1: Becoming Alpha Book 2: Avoiding Alpha Book 3: Alpha Divided Book 4: Bruja Book 5: Alpha Unleashed Book 6: Shattered Pack Book 7: Being Alpha Book 8: Lunar Court Book 9: Alpha Erased hr Don’t miss Off Planet, the biggest and boldest adventure yet from the mind of Aileen Erin. It's perfect for fans of Claudia Gray's Defy the Stars and Maura Milan's Ignite the Stars!

The Alpha Masters

Author: Maneet Ahuja

Publisher: John Wiley & Sons

Published: 2014-11-10

Total Pages: 287

ISBN-13: 1118971175

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The ultimate behind-the-curtain look at the hedge fund industry, unlocking the most valuable stories, secrets, and lessons directly from those who have played the game best. Written by Maneet Ahuja, the hedge fund industry insider, The Alpha Masters brings the secretive world of hedge funds into the light of day for the first time. As the authority that the biggest names in the business, including John Paulson, David Tepper, and Bill Ackman, go to before breaking major news, Ahuja has access to the innermost workings of the hedge fund industry. For the first time, in Alpha Masters, Ahuja provides both institutional and savvy private investors with tangible, analytical insight into the psychology of the trade, the strategies and investment criteria serious money managers use to determine and evaluate their positions, and special guidance on how the reader can replicate this success themselves. There are few people with access to the inner chambers of the hedge fund industry, and as a result it remains practically uncharted financial territory. Alpha Masters changes all that, shedding light on star fund managers and how exactly they consistently outperform the market. The book: Contains easy-to-follow chapters that are broken down by strategy--Long/Short, Event Arbitrage, Value, Macro, Distressed, Quantitative, Commodities, Activist, pure Short, Fund of Funds. Includes insights from the biggest names in the trading game, including Ray Dalio, Marc Lasry, Jim Chanos, Sonia Gardner, Pierre Lagrange, and Tim Wong. Features contributions from industry icon Mohamed El-Erian Many of the subjects profiled in this groundbreaking new book have never spoken so candidly about their field, providing extremely provocative, newsworthy analysis of today's investing landscape.

Alpha Quest

Author: Bruce Whatley

Publisher:

Published: 2007

Total Pages: 46

ISBN-13: 9781741690842

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Join the Alpha Quest, a journey in search of treasure! Everyone is desperate to find the riches - Eagle and Emu, the Goldfish in Gliders, the Knight, the Pirate Pig, even the Violent Viking. But only you can find the hidden pieces of the key to unlock the treasure.

Prince Juan

Author: Alpha Villanea

Publisher: FriesenPress

Published: 2018-01-05

Total Pages: 34

ISBN-13: 1525509888

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This is the story of Prince Juan’s journey to find true love and assume his father’s throne. He has three months to find a princess of his own to love and marry, or else be forced to marry the one his father, the king, has chosen for him. He sets out on a quest to find his true love, and meets Princess Maria, who comes from a magical family within a magical kingdom. They fall very much in love, but her father, King Solomon, doesn’t want to lose his beloved daughter, and so challenges Juan to pass three nearly impossible tests in order to prove himself worthy of marrying Maria. With no real magic of his own, will Prince Juan be able to win both Maria’s love and her hand in marriage or will an ancient family curse stand in the way of their happily ever after?

The Incredible Shrinking Alpha 2nd edition

Author: Andrew L. Berkin

Publisher: Harriman House Limited

Published: 2020-08-25

Total Pages: 220

ISBN-13: 0857198254

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Active managers persistently lag the returns of benchmarks and index funds that track them, with the excuses for underperformance recycled every year. This comprehensive book is the antidote for the active managers’ siren song. If you understand the benefits of indexing, or systematic investing, it will reinforce your commitment while increasing your knowledge. If you don’t yet believe, Swedroe and Berkin provide a compelling case that you’re playing the loser’s game of active management. Alpha, or outperformance against appropriate risk-adjusted benchmarks, is shrinking as it gets converted into beta, or factor exposures. They demonstrate that even for the most talented managers, their ability to add value is waning because: the amount of alpha available is declining; it must be split among an increasing amount of investment dollars; and the competition is getting tougher. In this greatly expanded second edition, Swedroe and Berkin show you how to develop an investment plan that focuses on what risks to take, and how much of them, as well as how to build a diversified portfolio. They present a list of vehicles to consider when implementing your plan and provide guidance on the care and maintenance of your portfolio. As a bonus they add appendices that will make you a more informed and, therefore, better investor. This makes The Incredible Shrinking Alpha a complete guide to successful investment strategy.

Quantitative Strategies for Achieving Alpha

Author: Richard Tortoriello

Publisher: McGraw Hill Professional

Published: 2008-12-01

Total Pages: 481

ISBN-13: 0071549854

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Alpha, higher-than-expected returns generated by an investment strategy, is the holy grail of the investment world. Achieve alpha, and you've beaten the market on a risk-adjusted basis. Quantitative Strategies for Achieving Alpha was borne from equity analyst Richard Tortoriello's efforts to create a series of quantitative stock selection models for his company, Standard & Poor's, and produce a “road map” of the market from a quantitative point of view. With this practical guide, you will gain an effective instrument that can be used to improve your investment process, whether you invest qualitatively, quantitatively, or seek to combine both. Each alpha-achieving strategy has been extensively back-tested using Standard & Poor's Compustat Point in Time database and has proven to deliver alpha over the long term. Quantitative Strategies for Achieving Alpha presents a wide variety of individual and combined investment strategies that consistently predict above-market returns. The result is a comprehensive investment mosaic that illustrates clearly those qualities and characteristics that make an investment attractive or unattractive. This valuable work contains: A wide variety of investment strategies built around the seven basics that drive future stock market returns: profitability, valuation, cash flow generation, growth, capital allocation, price momentum, and red flags (risk) A building-block approach to quantitative analysis based on 42 single-factor and nearly 70 two- and three-factor backtests, which show the investor how to effectively combine individual factors into robust investment screens and models More than 20 proven investment screens for generating winning investment ideas Suggestions for using quantitative strategies to manage risk and for structuring your own quantitative portfolios Advice on using quantitative principles to do qualitative investment research, including sample spreadsheets This powerful, data intensive book will help you clearly see what empirically drives the market, while providing the tools to make more profitable investment decisions based on that knowledge--through both bull and bear markets.