The End of Alpha?

Interesting article on the FT about the end of alpha. While beaten up badly in the past 5-10 years, this is the kind of result that supports the efficient markets theory.

Given the amount of money currently chasing anomalies combined with the increase in the availability of information it will become more and more difficult to beat the benchmark.

A colleague of mine told that once he heard about a candidate for a sales position saying that he "could sell beta like it was alpha". I guess they will have to do it more and more over time...

Back to Work - Some Cartoons to Brighten the Mood

Summer is soon going to end. Keeping up the good mood, this post is about my favorite business and academia-related (though not always) cartoon sites.

Now, let's get back to work!

The first one is http://www.despair.com/, which has the one below. I hope that none of the clients to each I have worked as a consultant before thought that!

The second is http://phdcomics.com that always has funny things (at least if you have gone through a PhD)

The final one is http://xkcd.com. It has lots of Seinfeld-kind of jokes that sometimes takes time for you to understand :)