@article {Minahan6, author = {John R. Minahan}, title = {The Role of Investment Philosophy in Evaluating Investment Managers}, volume = {15}, number = {2}, pages = {6--11}, year = {2006}, doi = {10.3905/joi.2006.635623}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Because returns have a substantial random element, investment philosophy analysis is a critical component of evaluating an investment manager. Despite this, most investment management firms do not have well-articulated investment philosophies; many are mere marketing slogans rather than thoughtful encapsulations of the investment insights an investment process is designed to exploit. The absence of well-articulated investment philosophies compounds the challenge of differentiating alpha from noise, and alpha-generators from alpha-pretenders. By not better articulating their philosophies, true alpha-generators are passing up an opportunity to distinguish themselves from the pretenders.TOPICS: In markets, in portfolio management}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/15/2/6}, eprint = {https://joi.pm-research.com/content/15/2/6.full.pdf}, journal = {The Journal of Investing} }