Corazon Capital chairman Ian Morley believes the only thing that goes up in a down market is the correlation of the non-correlated assets of a portfolio. In a critique of the current investment environment, Morley was scathing about the "beta providers charging alpha fees. That party is over."
He believes the aftermath of the financial chaos will clear the field of the poorer players, leaving the good ones to survive. Morley thinks too many investors confused a lucky bull run with alpha and