Publish and Perish

Condon, Bernard
October 2007
Forbes Asia;10/15/2007, Vol. 3 Issue 17, p26
The article presents an update on the Global Alpha hedge fund of Goldman Sachs. It is said that investors plan to pull $1.6 billion out of Global Alpha. Investors had plenty of warning from fund manager Mark Carhart. Before taking over Alpha, Carhart himself drew attention with a research paper warning investors against active mutual funds saying that high repeat returns had little to do with skill. Alpha returned 21% a year in the ten years through 2005. Then, true to his theory, Alpha lost 9% in 2006 and 33% in 2007.


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