Hedge funds’ old-turned-new strategy
Sometimes to beat the market you need to be the market.
That’s the concept behind “portable alpha,” a decades-old strategy gaining momentum on Wall Street. The approach includes mirroring the broad market via a benchmark, like the S&P 500, coupled with an actively managed strategy from a hedge fund.
The trend is being driven by institutional investors, but hedge funds are happy to oblige amid a difficult fundraising environment.
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This week’s quote:
“They hear this language, and they’re aware that this was made up by somebody’s grandfather 70 years ago, and it stuck.”
— Recruiter and TikToker Emily Durham, on the generation rejecting corporate jargon and workplace norms.
More of this week’s top reads:
- Want to work for Blackstone straight out of college? Here’s the best route.
- Don’t feel sorry for Linda Yaccarino.
- Tech’s most powerful bromance is bolstered by billions of dollars of deals.
- A software engineer explains how he splits his time between NYC and SF.
- A thief locked a traveler out of his Google account, destroying years of work.
- Starbucks is trying to make coffee fun again.
- The poster who sparked the fake JD Vance couch story speaks for the first time.
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London’s hedge fund rich are looking to avoid new taxes by relocating to Milan and Dubai. People who have made the move tell us what it’s like.
The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Lisa Ryan, executive editor, in New York. Amanda Yen, fellow, in New York.
https://www.businessinsider.com/insider-today-mark-cuban-big-pharma-cost-plus