5 ms·
It makes you wonder if the idea that capitalists are rewarded for being good at allocating capital is incorrect. It sounds like a post hoc rationalization of th
by danharaj 11y ago
It makes you wonder if the idea that capitalists are rewarded for being good at allocating capital is incorrect. It sounds like a post hoc rationalization of the fact that some will be winners and some will be losers. Enough monkeys allocating enough capital makes the markets operate.
- not_that_noob 11y agoThere is lots of evidence of this in stock markets across the world. Markets are mostly efficient and investors are mostly rewarded for being invested. Blindfolded monkeys outperform professional stock pickers - http://www.forbes.com/sites/rickferri/2012/12/20/any-monkey-can-beat-the-market/ http://www.forbes.com/sites/rickferri/2012/12/20/any-monkey-... Specialized investors are mostly rewarded imo for their specialized knowledge (e.g. taking airport revenues and slicing that up into bonds, MBS, CDS, etc.) than in actual investment prowess. Sand Hill's abysmal venture returns are a testament to this.
- jsprogrammer 11y agoOf course it is a post hoc rationalization. Have you seen a proof that capitalists are rewarded for being good at allocating capital?
- danharaj 11y agoOh, I was being rhetorical. I think capitalism is terrible and incoherent.
- jsprogrammer 11y agoAs a statement of non-violence, it is an excellent goal. However, we should be trying to ensure that violence isn't happening.