- Hardcover: 208 pages
- Publisher: Bloomberg Press (February 2, 2011)
- Language: English
- ISBN-10: 0470926546
- ISBN-13: 978-0470926543
In The Quest for Alpha, Larry Swedroe presents research, data and advice from some legendary market gurus to show that it is extremely difficult to outperform the market. Examining the evidence from academic studies on mutual funds, pension plans, hedge funds, private equity/venture capital, individual investors and behavioral finance, he demonstrates that the markets are indeed highly efficient. Swedroe then explains why investors should instead 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.
Review
"In a world where many investment books promise sure-fire techniques to earn extraordinary returns, it is refreshing to have Larry Swedroe remind us that there are no such techniques — in short, there is no holy grail. This delightful book will help investors win by teaching them how to avoid losing."
—Burton Malkiel, author, A Random Walk Down Wall Street
About the Author
Larry Swedroe is a principal and the director of research for Buckingham Asset Management, which manages more than $2.8 billion. He is the author of several books, including The Only Guide to a Winning Investment Strategy You'll Ever Need and Wise Investing Made Simple. He received his MBA in finance from New York University.
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