The historian will tell you what happened. The novelist will tell you what it felt like.
- E. L. Doctorow
Academics will tell you what happened to generate returns in finance, but the manager will have tell you the feel for how it is done.
- How is research conducted to add realism?
- How is new research actually included in a portfolio?
- How are changes in existing models addressed?
- How are new research ideas sized relative to existing strategies?
- How are new ideas traded in different market situations?
- How is liquidity for a new strategy addressed?
- How does a manager address crises or extreme events with a new strategy?
- How are the experiences and unique situations faced by the manger employed within strategies?