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 Strong Markets Lifted Ivy League Returns, But PE Keeps Dragging Them Down James Comtois New Fund Bets on Sports Teams and the Real Estate Play Behind Teams John Crabb A Long-Term Approach to Using ETFs in Institutional Portfolios Sponsored by Northern Trust Asset Management