Unpacking Excess Returns: Separating Beta, Factors, and True Alpha

In this clip, Andrew Carr, Analyst Instructor at Fundamental Edge, breaks down a question from Analyst Academy office hours: What factors explain excess returns beyond beta?

He explains how size, quality, value, and momentum shape performance and why top managers today can clearly separate returns driven by beta, factors, and true alpha.

Andrew also shares thoughts on how this transparency helps investors assess skill and set expectations.

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Видео Unpacking Excess Returns: Separating Beta, Factors, and True Alpha канала Fundamental Edge