Re: maybe lets be less moderate....

From: Glyn Holton
Affiliation:
Address:
Date: 20 Aug 2007
Time: 08:59:26

Comments

You can't have it both ways. You can't accept market efficiency as generally valid but then claim "high leverage and aggressive trading" can be used to outperform. No amount of leverage is going to transform a bad trade into a good one. Leverage can magnify alpha, but it cannot generate alpha. If you have zero alpha, you can magnify it with leverage, but zero alpha magnified is still zero alpha.

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