I believe, but cannot prove, that true alpha does not exist for individual investors. There are too many conflicts of interest and “frictions” in the system for an individual investor to enjoy market-beating results. I believe this is the case … Read more
12 CommentsThe investment management industry is based on the premise that smart, hard-working managers with cutting-edge technology can outperform “the market.” These active managers strive to outperform by trading stocks or other securities in order to capture the best investment opportunities … Read more
2 Comments“One who sees inaction in action, and action in inaction, has understanding among men, disciplined in all he performs.” —Bhagavad-Gita, Chapter 4, Verse 18 As you may have noticed, financial markets have been uncertain of late. The conventional response is … Read more
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