巴菲特的阿尔法(Buffett's Alpha)是NBER美国国家经济研究局2013年12月3日的一篇工作论文。
Buffett's Alpha
“Buffett's leverage is about 1.6-to-1 on average.”,“Berkshire Hathaway has realized a Sharpe ratio of 0.76, higher than any other stock or mutual fund with a history of more than 30 years,”,“reward for the use of leverage combined with a focus on cheap, safe, quality stocks.”。
巴菲特使用1.6倍杠杆,实现夏普比率0.76,关注便宜、安全、优质的股票。