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Rekenthaler Report

Buffett's Betas

Every investor's results can be rationally explained--even Warren Buffett's.

Good things come to those who revise.

“Buffett’s Alpha” first began in 2012, then was circulated as a working draft in 2013 by Andrea Frazzini, David Kabiller, and Lasse Heje Pedersen, three principals with AQR Capital Management. The article was not officially published for another five years, but when it was, it garnered the Graham & Dodd Award as the top 2018 paper in the CFA Institute’s magazine, Financial Analysts Journal.