When Alpha Equals Beta - by David McGillveray (Paperback)

Book Synopsis

A brutally honest journey into the world of asset management

Asset management is the business of making money by investing money for other people. If you have a pension or any savings in the stock market, you are probably a customer. The active investment industry claims it can beat the market and make you rich, but it is under siege from passive competition and technological advances because of its track record of broken promises. How can the active investment business survive under such assault? Why do so many professional investors fail? Can sustainable investing save the industry and the planet? Why do fund managers become monsters? Answers can be found here.

Review Quotes

David McGillveray lifts the lid on the fund management industry and as a veteran insider tells us exactly how it really works. His incisive analysis, together with a healthy dollop of wit and cynicism, provides investors with a great steer on what to do and who to trust, and even more importantly, what not to do and who not to trust.--Alastair Mundy, Fund Manager and author of You Say Tomayto: Contrarian Investing in Bitesize Pieces

About the Author

David McGillveray has recently retired from the asset management industry after nearly thirty years. In that time, he has worked as an equity fund manager, a marketeer, managed an equity research team and headed the investment risk departments of two major listed UK investment businesses. He has managed money, worked closely with sales and marketing teams, been involved with oversight and governance at company level, sat on fund boards and industry bodies and helped design fund propositions. He has dealt with regulators, out of control fund managers and survived multiple market crises.