Jason's Hierarchy of Entertainment S03:E07
Pirates of Finance
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The Immaculate Rebalance of Research Affiliates
March happened to be the exact best possible rebalance date you could have chosen coming out of 2009. And in fact, if you had rebalanced in September instead, you would have had negative alpha. So going from positive 10 percentage points of alpha to like negative 1% of alpha. But it's hard for me to believe that that did not pour gasoline on the fire for them. They do a lot of other great stuff and Rob Arnott's a marketing genius and a great salesman.
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