The problems with alpha...

In my MBA class this semester, we haven't gotten to alpha yet... but this post on the unknown professor's blog touches on the weakness of alpha. The whole video is worth watching.

The source of the video is "falkenblog", and a more detailed post on the topic is here.

The quote:

One should remember that Enron was the subject of Harvard Business School case studies in 'best practices' management, they emphasized their 'risk management' and received plaudits there.

made me laugh out loud.