Don't sell your alpha, capture it
It would be hard to argue that selling is not important. In fact, effective selling is paramount to capturing all the performance available from equity investing. Yet little has been written about this crucial aspect of fund management. To quote from a renowned paper by Faugère, Shawky and Smith: "The notion of sell discipline has a long history, but the topic has received only occasional mention in the practitioner literature and no attention at all in academic journals."
Despite the paucity of
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