There is no doubt that outperforming the market is difficult and there are certainly situations where passive investing is the best alternative. For most individual non?]sophisticated investors, passive alternatives are clearly the best option. But professional investment managers and capital allocators remain deeply interested in learning and honing the craft of active management, because they can be amply rewarded for doing. For this group of dedicated investment professionals beating the market -or alpha creation as they like to call it--is very possible with the proper investment discipline and methodologies. Central bank intervention and the accelerated pace of technology are causing an increase in the disruption of traditional business models across many industries. These industry paradigm shifts combined with macro?]driven financial markets have created one of the toughest environments for active investment managers in history. This book is primarily directed at equity investment strategies with lofty goals of alpha creation. Understanding the limits and potential of each unique investment methodology and portfolio strategy is a learning process in itself. Understanding which features of active investing need to be implemented and stressed from a risk perspective to achieve a defined set of goals is paramount to success. Active investing is a craft that can be honed with experience and research. Of course, luck is an ever-present influence in investing and creates one of the greatest hurdles to overcome. Both good and bad luck influences outcomes and makes learning a difficult process. The greatest tools to fight bad luck are a disciplined process and investing with the appropriate time horizon. It has been a very tough decade for active investment managers, but reading this book will inspire inspire them to think differently about risks and opportunity. Through his own investment lenses and experiences, Jones provides must-read insights on: Markets in which there is great opportunity for alpha generation The limitations underlying unique alpha generation strategies The challenges in outperforming the market in an age of disruption Core investment tenets that may not hold in the future Readers committed to outperformance will benefit greatly from Jones take on the investment process, and how investment professionals much you adaptive learning approaches to excel. The commitment to refine your investment process, he emphasizes, will be the difference in the future, since the margin of error between under and outperforming is so thin.

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