PT - JOURNAL ARTICLE AU - John R. Minahan TI - The Role of Investment Philosophy in Evaluating Investment Managers AID - 10.3905/joi.2006.635623 DP - 2006 May 31 TA - The Journal of Investing PG - 6--11 VI - 15 IP - 2 4099 - https://pm-research.com/content/15/2/6.short 4100 - https://pm-research.com/content/15/2/6.full AB - 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