Seeking Alpha

Eric Falkenstein

Eric Falkenstein ( works for Walleye Software, based in Minneapolis. His blog, Falkenblog (, is mainly about economics and finance. Prior published articles are kept here (

Prior to his current position, Eric was a long/short equity portfolio manager at Deephaven Capital Management and Telluride Capital Management. Prior to that, at Moody's he developed RiskCalcTM, the leading tool for estimating private firm default risk. At KeyCorp bank, he was Head of Capital Allocations and Quantitative Research, and implemented various capital allocation processes around the bank. He has a PhD in economics from ...More
  • Description: Independent / boutique research firm analyst. Trading frequency: Infrequent
  • Interests: Stocks - long, Stocks - short
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Finding Alpha This book argues that in general, risk is unrelated to returns. At the very low end of the risk spectrum we see a little risk premium, at the very high end a negative risk premium. I survey over 20 asset classes documenting this. I then present a theory as to why this is an equilibrium. The fact that risk ...More