I'm reading this paper by Andrea Frazzini and Lasse Heje Pedersen (http://pages.stern.nyu.edu/~lpederse/papers/BettingAgainstBeta.pdf) - and I have searched on youtube and here aswell but I can't find any other paper or discussion forum about this topic.
Have any of you something clever to say about this idea with betting against beta. I simply don't understand why one will bet against beta and after reading the paper by F&L I neither understand how high beta (risk) is low alpha (return). Shouldn't be vice versa that high beta gives high alpha?
Hope some of you have worked with this before and can give an good intuition understanding of this topic.
Best Regards, Toni