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In a technical sense, [[alpha]] is a measure of market outperformance: it gauges the variance of a portfolio’s performance over the market average, or "[[beta]]". An investment manager’s [[alpha]], therefore, is the value that manager adds that you would miss out on if you just invested in the [[benchmark]]. | In a technical sense, [[alpha]] is a measure of market outperformance: it gauges the variance of a portfolio’s performance over the market average, or "[[beta]]". An investment manager’s [[alpha]], therefore, is the value that manager adds that you would miss out on if you just invested in the [[benchmark]]. | ||
But when you’re a salesperson, it’s easier than that. [[Alpha]] is just a catch-all {{tag|buzzword}} meaning “really cool”, which is why it’s so popular in new product acronyms: you know, ''Tactically [[Enhanced]] [[Alpha]] Receipts'', or ''TEARs'', which you can be assured you’ll eventually be in if you fall for a ruse as crappy as that. Also, it’s a vowel, and you need vowels to make good acronyms. | But when you’re a salesperson, it’s easier than that. [[Alpha]] is just a catch-all {{tag|buzzword}} meaning “really cool”, which is why it’s so popular in new product acronyms: you know, ''Tactically [[Enhanced]] [[Alpha]] Receipts'', or ''[[TEARs]]'', which you can be assured you’ll eventually be in if you fall for a ruse as crappy as that. Also, it’s a vowel, and you need vowels to make good acronyms. | ||
===The love-hate relationship between [[Alpha]] and [[Vega]]=== | ===The love-hate relationship between [[Alpha]] and [[Vega]]=== | ||