Respond with good model, not whatever silly model happens to be floating around.
Sunday, March 29, 2015
On "The incredible shrinking alpha"
I’ve recently read “A Random Walk Down Wall Street,” in the new edition.
This is basically a pocket version of that.
Active management is out. It always should have been
Of course that is already my prejudice, so this just reinforces that.
J. Edgar Mihelic
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