Max Darnell

  • A Question of Supply

    By James Picerno  |  January 1, 2008

    Chess is one example, poker is another. But is investment alpha a zero sum game, too? Do the winners in money management always triumph at...

  • Rethinking Zero

    By James Picerno  |  January 1, 2008

    Alpha is widely viewed as a zero sum game, and so for every investor who beats the market, someone must trail it. If this balancing...