Paper says substantial hedge fund alpha stems from idiosyncratic actions

A new paper found that hedge funds' unobserved actions - i.e., frequent trading, derivatives usage, short selling, and confidential holdings - account for a large part of their alpha.

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Florian Weigert ,Vikas Agarwal ,Stefan Ruenzi ,Matthias Knab , ,New Managers ,Hedge Funds ,Hedge Fund Alpha ,Hedge Fund Research ,Edge Fund Outperformance ,