Paper says substantial hedge fund alpha stems from idiosyncr

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 ,