I had the opportunity to attend a zoom meeting with the authors of the book The Incredible Shrinking Alpha.
It was super entertaining; and I brought their book right away. Alpha is still there, it’s just harder and harder to obtain! 30 years ago, you had portfolio managers with liberal arts degrees at the biggest funds. Now, you need an MBA or phD from a top 5 financial university, a CFA, and massive experience. With that level of competition, is alpha even worth paying and risking your money for?
I hope to be able to post more as I read this book!