Which Investors Are Glad To Pay For Mediocre Performance?
David Teten
MARCH 24, 2014
The firm hires a lot of PhDs to do research and come out with a wonder drug, and then markets it widely with tons of PR. Teten : I’m not sure I agree, as inevitably some people will look like geniuses in a random distribution of outcomes. We over-weighted small cap value stocks in 1998-2002. In fact, Melchisedec is a placebo.
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