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Skill and Performance

✍ Scribed by Irena Grugulis; Dimitrinka Stoyanova

Book ID
110977161
Publisher
John Wiley and Sons
Year
2010
Tongue
English
Weight
106 KB
Volume
49
Category
Article
ISSN
0007-1080

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## Abstract Using data on the monthly returns of hedge funds during the period January 1990 to August 1998, we estimate six‐factor Jensen alphas for individual hedge funds, employing eight different investment styles. We find that about 25% of the hedge funds earn positive excess returns and that t