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 Institutional Investor Launches Alpha Edge Buy List™ II Press Room Premium Seligman Bets Carvana’s High-Flying Stock Won’t Hold Up Stephen Taub How to Know if Your Nonprofit is Ready for an Endowment Sponsored by Fidelity Investments