The Incredible Shrinking Alpha (Second Edition)

Based on decades of research and my personal experiences, I too gave up the quest for alpha long ago. I hold an endowed chair in investments and am a member of The Wall Street Journal Experts panel. Yet, I do not own a single individual stock or corporate bond. Rather, I invest in low-cost passive mutual funds and ETFs. Swedroe and Berkin demonstrate how this strategy can be used to achieve a prudent, globally diversified portfolio. Their book could well end up saving you a lot of money?your money?and giving you a lot of free time.William Reichenstein, Investment Professor at Baylor University

Swedroe and Berkin have done a remarkable job in absorbing academic finance research and disseminating its key insights to a broad audience. Their core message that passive investing is beneficial for a vast majority of investors is supported by a large body of evidence-based scientific research. Swedroe and Berkin’s writings are informative, insightful, and fun to read. I highly recommend this book. ?Lu Zhang, The John W. Galbreath Chair, Professor of Finance, The Ohio State University, Fisher College of BusinessJim O'Shaughnessy, Author of What Works on Wall Street

Berkin and Swedroe knock it out of the park with The Incredible Shrinking Alpha. The authors provide an incredibly thorough and balanced summary of the research on the challenges faced by active asset management. I learned a lot from this book and I think you will too. Read it.Wesley R. Gray PhD, CEO of Alpha Architect, and co-author of Quantitative Value and Quantitative Momentum

Ever wonder why your actively managed funds almost invariably disappoint you? Piece by piece, the authors peel back the claims that active managers can add value in a system where it gets harder and harder to generate Alpha. In a world where academic research uncovers the true sources of return and markets relentlessly become more efficient, what’s an investor to do? Go passive! Swedroe is the master of explaining financial research in terms that every reader can easily understand. Read and improve your financial acumen.Francis Armstrong III, author of The Informed Investor and Investment Strategies For The 21st Century