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March 24, 2010
Leo Pardo
and
3 other people
answered this question
How do you define the term "Alpha" when referring to Investment Managers?
Using the S&P-500 index as a benchmark, if that index gains 15% for the year and a money manager generates an 18% return for the same year, that manager is said to have generated 3% of "alpha", i.e. the additional return over and above the ... more