Reinvest Wisely So Your Family Will Love You: Enigmatic Fine Art Returns, Messi & Sports Financing
Pirates of Finance
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The Dismantling of Alpha
I hate the phrase alpha because it's a morphus. I actually disagree with Chris that someone like a Wrentech, if there's enough alpha that they are going to set a fee high enough that they harvest all the alpha. Because as an asset manager, then you can raise as much money as possible and get a very consistent return stream from client fees. That's where Chris is wrong. You can't run client. You need the fees to get the carry. And you need the clients to stay in there for you to earn the carry. So it's a market clearing price thing. Or go ahead, sorry, sorry. It's a much better alpha than earning alpha? Client
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