Why is the Sharpe ratio a more appropriate measure of performance than the ex post alpha if the portfolio being assessed represents the entire wealth of the portfolio 's owner ...

If the portfolio represents the entire wealth of its owner then the ...

Why is the Sharpe ratio a more appropriate measure of performance than the ex post alpha if

Question:

Why is the Sharpe ratio a more appropriate measure of performance than the ex post alpha if the being assessed represents the entire wealth of the portfolio's owner?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...