Andrew Ang, Asset Management: A Systematic Approach to Factor Investing, Chapter 10: Alpha is a 43 minute instructional video analyzing the following concepts:

* Describe and evaluate the low-risk anomaly of asset returns.

* Define and calculate alpha, tracking error, the information ratio, and the Sharpe ratio.

* Explain the impact of benchmark choice on alpha, and describe characteristics of an effective benchmark to measure alpha.

* Describe Grinold’s fundamental law of active management, including its assumptions and limitations, and calculate the information ratio using this law.

* Apply a factor regression to construct a benchmark with multiple factors, measure a portfolio’s sensitivity to those factors and measure alpha against that benchmark.

* Explain how to measure time-varying factor exposures and their use in style analysis.

* Describe issues that arise when measuring alphas for nonlinear strategies.

* Compare the volatility anomaly and beta anomaly, and analyze evidence of each anomaly.

* Describe potential explanations for the risk anomaly.