The Incredible Shrinking Alpha

Larry Swedroe
December 10, 2020 from 5:00 pm to 6:30 pm

Click this link to access the video of this meeting

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 presentation, Larry will explain how several factors are contributing to active management becoming a loser’s game and why it will become even more difficult to outperform the market in the future.

ABOUT THE PRESENTER

Since joining The BAM Alliance in 1996, chief research officer Larry Swedroe has spent his time, talent and energy educating investors on the benefits of evidence-based investing with enthusiasm few can match. He was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has co-authored eight books about investing. His latest work, “Your Complete Guide to a Successful and Secure Retirement,” was co-authored with Kevin Grogan and published in January 2019. Larry has made appearances on NBC, CNBC, CNN and Bloomberg Personal Finance. He contributes regularly to multiple outlets, including ETF.com and Advisor Perspectives. He holds an MBA in finance and investment from New York University, and a bachelor’s degree in finance from Baruch College in New York.

Attend this seminar to learn:

  • Academic research has been converting what was once alpha into beta
  • The pool of victims that can be exploited has been shrinking
  • The competition has been getting tougher
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