Alpha abounds

There have been plenty of recent reports suggesting that an influx of new hedge fund managers is eroding opportunities to generate alpha. Barry Schachter, however, argues that these claims are greatly exaggerated


Chapter 1 of Barton Biggs' new book, Hedgehogging1, contains a fictionalised discussion on the current state of hedge fund alpha. One participant begins: "The alpha pool of the whole hedge fund industry is not growing, but the number of guys trying to drink from it is." To which Biggs replies: "I am not so sure the alpha pool is not growing ... new, naive, trigger-happy crazies (will cause blow-ups that) will expand the alpha pool for the rest of us."2

The future of alpha is not just an investor

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here