Henrik Olejasz Larsen - Morningstar
Henrik Olejasz Larsen - Morningstar
Henrik Olejasz Larsen - Morningstar
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The talk in three sentences plus…Three observations:• The most certain alpha-source isinvestment costs - and it is negative• Diversification is said to be the onlyfree lunch - but it is not free• Low risk assets can give high yields• … and conclusions on how this isreflected in our portfolio construction3