What used to be marketed as alpha is really just simple indexes once you shed some light on it….(Sculpture from Tim Noble and Sue Webster and HT: MS)
If I were a high fee mutual fund complex I would sure hope I was near retirement. The evolution of former alpha into “alternative beta” or “smart beta” or just simply just “better indexes” continues. I’ve been harping for years wondering why some fund complexes haven’t launched some simple managed futures products with low fees, and finally I saw today one did. Lets look forward to this continuing!