FYI: As my wife said to me this morning, rabbit rabbit. We all need some luck, however we can get it, even though our job as investors and allocators of capital is to seek out real skill in the managers we hire. This can often be difficult to find, but as volatility creeps back into the market and the spread of returns within and across asset classes widens (i.e. increased dispersion of returns), skilled managers have a greater opportunity to add value. And this benefits actively managed funds, especially those that rely more on alpha than beta to generate returns.
Regards,
Ted
http://dailyalts.com/weekend-reading-managed-futures-market-neutral-smart-beta-volatility/
