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- 2011-7-2
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- 2016-4-19
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I always thought ALPHA was excess return over some normal benchmark w/o any risk adjustment.
My portfolio earned 10%, my properly specificied benchmark earned 8% = 2% alpha. No matter the risk I undertook to get there. Is alpha not = excess return???
Will give answer in a few. |
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发表于 2011-7-11 19:38
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