Author: Cassie

Measuring performance Does investment skill exist? If so, how can it be measured? Traditionally, market participants and commentators have hunted for evidence of investment skill in industry wide databases of track records. This flawed approach of relying on track records to separate luck from skill has proved inconclusive and cast further doubt. Determining luck from…

On 20th April 2010 an explosion sank the Deepwater Horizon platform and caused oil to flow into the Gulf. On 15th July a temporary seal was completed, followed by the fitting of the permanent cap on 19th September. Eleven people died in the disaster and 3.2 million barrels of oil leaked into the Gulf. This…

Alpha Decay is a ground-breaking academic paper co-authored by Rick Di Mascio, CEO of Inalytics, Anton Lines from Columbia Business School and Narayan Y. Naik from London Business School. Using transaction level data from a sample of professional asset managers, the authors observed positive incremental alpha on newly purchased stocks that decays over the twelve…