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Victor Haghani, Founder and CIO, Elm Partners

Alpha Exchange

CHAPTER

The Power of the Benchmark Index

The ability to print truly negatively correlated returns is very difficult. There was a period in 20 17, i think, but with black rock its pass index group and vanguard were taking in something on the order of a billion dollars of fresh money per day. And so the index, the bench mark index, is such a gravitational force for managers that that itself becomes part of,. i think, the pull of capital towards these mega cap companies.

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