13 of 16 people found the following review helpful
Interesting, but ultimately frustrating,
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This review is from: Searching for ALPHA: The Quest for Exceptional Investment Performance (Hardcover)
An easily readable and interesting book about problems and opportunities when trying to exceed average investment performance in a nearly efficient market. As an individual investor, I got a few interesting general insights about the investment climate in which I am competing.
But ultimately, I found the book frustrating and rambling. Ideas in one section do not build on or relate clearly to those in other sections. Investment terms (managed futures, arbitrage, value at risk) are discussed in interesting ways but are not defined or explained in enough detail to make them clear or useful. The book seems to be addressed to people who already know most of the investment management concepts discussed, but then it is unclear why concepts like a normal distribution are explained in the simplest terms possible. The book may appeal to math phobics since the author's dismissive references to "quant jocks" makes me think he leaves all the math and precision thinking to others.