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Buffett's Alpha

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NBER2013-11-01 更新2025-01-04 收录
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Berkshire Hathaway has realized a Sharpe ratio of 0.76, higher than any other stock or mutual fund with a history of more than 30 years, and Berkshire has a significant alpha to traditional risk factors. However, we find that the alpha becomes insignificant when controlling for exposures to Betting

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2013-11-01
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