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 Emotional Yields and the Price of Feeling Good Christopher Schelling Cheryl Alston, Former Executive Director & Chief Investment Officer at the Dallas Employees’ Retirement Fund Re-Examining the Role of Commodities in a New Market Regime Sponsored by Invesco