Alpha Is Dead: Barclays Says With Stock Dispersion At All Time Lows, It Is “Not A Stock Pickers’ Market”
There is a simple reason why all hedge funds with “relative value” or “deep value” in their names will soon be looking to change their moniker: stock picking no longer works, with the only strategy that matters, as implied correlation is now at the second highest level in history, is picking the time to leverage beta exposure and riding the broader market up or down. Alpha is now dead. as …

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