If the current era can be best benchmarked it is by its odd and, at times, logic-defying feats. This includes negative interest rates, teleportation advances in China and the Chicago Cubs winning a World Series title. Add to this list another oddity: Why did former chief investment officer of the Teacher Retirement System of Texas (TRS) Britt Harris leave his high-profile perch to manage funds at a pension about 2/3rds smaller? The move came as a beta targeting fee structure was unpackaged by Harris and gaining momentum. As names of potential replacements swirl, Harris and his loyalty to Texas may…
Why Did Britt Harris Leave TRS And Did He Abandon Beta Targeting?
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.