News and Insights

This Strategy Beats the World’s Top Hedge Funds — Don’t Try It


The Wall Street Journal featured recently a paper published by GFRI's Professor Olivier Scaillet in the Journal of Finance.

Scaillet and his co-authors, Laurent Barras and Russ Wermers, looked at thousands of mutual funds between 1975-2006 and determined that only 0.6% of managers had enough demonstrable skill to outweigh their fund’s cost.


For the paper “False discoveries in mutual fund performance: Measuring luck in estimated alphas” >  

For the Wall Street article by Spencer Jakab (subscription is required) >

May 23, 2023

News and Insights