Alpha refers to the extra return that an active investment manager adds beyond what you’d normally receive by using prudent asset class investments, re-balancing periodically, and staying globally diversified. In other words, it’s the possible extra return (or loss…) that’s achievable when you reach beyond prudent investing. As you’ve probably guessed, we advocate an evidenced based, prudent approach to money management.
However, we do think that strategic tax planning can produce “Tax-Alpha” for a portfolio. By keeping more of your money out