PT  - JOURNAL ARTICLE
AU  - Lee R. Thomas III
TI  - Engineering an Alpha Engine
AID  - 10.3905/joi.2005.605278
DP  - 2005 Nov 30
TA  - The Journal of Investing
PG  - 23--31
VI  - 14
IP  - 4
4099  - https://pm-research.com/content/14/4/23.short
4100  - https://pm-research.com/content/14/4/23.full
AB  - Who can resist fondly recalling the long investment boom of the 1980s and 1990s? We lived in a charmed world in which it was hard to lose money investing in stocks or bonds. So we are condemned to live now in an investment environment in which making money is hard. For many, holding passive positions in stocks or bonds will no longer produce a satisfactory return. What is an investor to do? One answer is to produce alpha.