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 Cambridge, Other Advisors See Spike in Interest in Co-Investments James Comtois Late to Private Markets, City of Austin May Have Gotten the Timing Right James Comtois Creative Disruption: Private Markets in 2026 Sponsored by Franklin Templeton