The Price of Generating Alpha Alpha is a zero-sum game, according to David Villa of the State of Wisconsin’s Investment Board. Here he talks about how making the right errors leads to high returns. Related Articles New Fund Bets on Sports Teams and the Real Estate Play Behind Teams John Crabb In a Combative Year, Strong Equities and Savvy Hedge Fund Selection Drove Harvard’s Returns James Comtois Is the Market Really Sure About Its Direction? Sponsored by CME Group