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===Why you should run for the hills when you see a product called [[leveraged alpha]]===
===Why you should run for the hills when you see a product called [[leveraged alpha]]===
[[Alpha]] was a far more credible label when {{tag|hedge fund}}s were a small segment of the market comprising the ''crème de la crème'' of the city’s trading talent — the Soroses and GLGs of the world — who really could outperform the rest of the market. If someone is incautious enough to claim they’re generating [[leveraged alpha]], they’re either so stupid as to admit they're really just gearing the whoopsie out of your investment (if it goes wrong, guess who loses?), or they think ''you're'' so stupid you won't understand that.  
[[Alpha]] was a far more credible label when {{tag|hedge fund}}s were a small segment of the market comprising the ''crème de la crème'' of the city’s trading talent — the Soroses and GLGs of the world — who really could outperform the rest of the market. If someone is incautious enough to claim they’re generating [[leveraged alpha]], they’re either so stupid as to admit they're really just gearing the whoopsie out of your investment (if it goes wrong, guess who loses?), or they think ''you're'' so stupid you won’t understand that.  


Quite possibly both.
Quite possibly both.

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