Peter Muller has the most succinct summary of this that I've seen in his (very worthwhile) opinion piece on proprietary trading [1]: Sharpe Ratio, Marketing de

Peter Muller has the most succinct summary of this that I've seen in his (very worthwhile) opinion piece on proprietary trading [1]: Sharpe Ratio, Marketing department ≤ 0: Runs the firm 0.25: Very important; involved in all investment decisions; major focus on asset gathering 0.5–1.0: Secondary 1.0–2.0: Almost superfluous ≥ 2.0: What marketing department? [1] https://faculty.fuqua.duke.edu/~charvey/Teaching/BA453_2004/Muller_Proprietary_trading.pdf https://faculty.fuqua.duke.edu/~charvey/Teaching/BA453_2004/...