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 Structural Changes Are Leading Investors to Rethink Real Estate James Comtois Systematic Hedge Funds Deliver Near-Record Returns in September The Editorial Team Growth Is Expensive. Innovation Doesn’t Have to Be. Sponsored by Northern Trust Asset Management