short alpha

5 statements across 5 episodes · 1 bullish · 1 bearish · 5 people on the record · first statement Apr 12, 2021 by Yen Liow · across every show →

Everything said about short alpha, oldest first

Apr 12, 2021 positive
Disclosure
Liow: Aravt Global spends under a third of research time generating short alpha
“Us as an institution, we would spend less than a third of our time short selling less than a third. And we can sustain five to 800 basis points a short alpha by doing that because we've built up seven years of inventory.”
Yen Liow Apr 12, 2021 ▶ 39:40 Yen Liow - The Quest for the Right Tail at Aravt Global (Capital Allocators, EP.188)
Dec 2, 2021 neutral
Insight
Cooper: Fund managers who consistently generate short alpha are exceptionally rare
“We have a real focus on alpha, and we want to see managers able to produce alpha on both the long and the short side, and I think a lot of managers that we come across are very adept, consistent at generating long alpha. But those that can really generate shor…”
Ben Cooper Dec 2, 2021 ▶ 5:40 Will Cook - Sunriver Management (Manager Meetings, EP.22)
Jan 15, 2024 negative
Insight
Michelakis: L/S Funds Lacking Short Alpha Are Diluted Long-Only Managers
“If you're running a one 50 gross long short fund, and you've got good long alpha, but no short alpha, and you end up with one 50 50, what I mean is one 50 gross, 50 net exposure, that means you're a hundred long, so you're a long manager on that side of the ba…”
George Mikulakis Jan 15, 2024 ▶ 12:52 George Michelakis – Chess Master's Approach to Long-Short Equity at Gladstone (EP.362)
Oct 28, 2024
Disclosure
Sandler: Eminence doubled its compensation weighting for generating short alpha
“I changed our compensation structure to add double weight for short alpha, and preached to the team.”
Ricky Sandler Oct 28, 2024 ▶ 33:39 Ricky Sandler - Evolution of Long-Short Equity Investing (EP.414)
Mar 2, 2026 neutral
Insight
Baker: For an unlevered long book under 100%, short alpha is irrelevant
“If you're going to run with an unlevered long book under a hundred, then short alpha is irrelevant. All that matters is your shorts must make money. Full stop.”
Gavin Baker Mar 2, 2026 ▶ 48:06 Gavin Baker – Truth-Seeking and Crossover Investing at Atreides (EP.489)
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