What does this mean again ?
for definitions as opposed to concepts use the glossary in the back of the CFAI texts as a starting point then if you’re still lost, post a more specific question as that will direct us where to start helping you…
I believe it’s part of the alph-beta separation approach. You can generate your beta by investing long in some type of index. Your can then hire out a separate manager or engage in a long-short strategy to generate your alpha. You alpha is portable so long as you are able to switch among different styles/managers to generate alpha. Derivatives overlays can be used to switch alphas more easily.
here is a good article on portable alpha, it explains it fairly well http://www.euromoney-yearbooks.com/images/143/downloads/MORGANSTANLEY1FINAL.pdf
WOW volkovv - first glimps, this article is killer! Im printing it off and going to read through it.