Again no beta, but vast alpha was generated from security selection and timing by those with skill. In aggregate, "stocks" can and do underperform "bonds" for decades. 60/40 sounds prudent until ...

A look at the rolling beta to the S&P 500 explains why long/short funds are down less, but still down. At close to .60 over the past 3 years, it is at the high end of its historical range and a ...