What really defines a well-functioning market?
Decomposing ‘crisis alpha’ into crisis beta and negative alpha.
The non-portability of alpha.
The more people rely on technology in their decision-making process and the execution of their decisions, and the more sophisticated and autonomous this technology becomes, the greater the human responsibility for the well-functioning of the technology used.
Redefining the art of investing from ‘striving for positive alpha’ to ‘avoiding negative alpha’.