The Incredible Shrinking Alpha
Larry Swedroe
December 10, 2020 from 5:00 pm to 6:30 pm
In 1998, Charles Ellis in his book “Winning the Loser’s Game” presented evidence that while it is possible to generate alpha and win the game of active management, the odds of doing so are poor and it’s not prudent to try. Like taking chances at the craps table, roulette wheel, and slot machine, the surest way to win a loser’s game is to choose not to play. In investing, that means investing in the passively managed index funds. In his …