RT Journal Article SR Electronic T1 Debunking Some Myths of Active Management JF The Journal of Investing FD Institutional Investor Journals SP 20 OP 28 DO 10.3905/joi.2005.517171 VO 14 IS 2 A1 M. Barton Waring A1 Laurence B. Siegel YR 2005 UL https://pm-research.com/content/14/2/20.abstract AB Too often, active managers promote their services in ways that help perpetuate a number of myths and misconceptions about active management. These include the confusion of alpha with beta, skill with luck, expected return with realized return, and style bets with true active bets. Managers sometimes also claim to be absolute return investors, neglecting to note that all active management is about adding value relative to some sort of investable benchmark. The authors address these and other misconceptions.