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The stories are interesting to get a sense of what things were like, but they fall short as evidence of who knew what was going on in the moment. Holding up a s
by ukulele 9y ago
The stories are interesting to get a sense of what things were like, but they fall short as evidence of who knew what was going on in the moment. Holding up a stock analyst who "saw it coming" is survivorship bias in the extreme.
- whatok 9y agoI mean, I don't see it being depicted in any way besides "hey here's what I experienced". A lot of people actually mention being caught off-guard and taking massive losses on the Monday itself. The "stock analyst", Paul Tudor Jones, is probably the most famous one who "saw it coming" but knowing something is coming doesn't necessarily mean you are able to profit from it.
- csours 9y agoThe article itself calls this out: > Most of the people willing to share their memories count themselves as winners who seized the moment as an opportunity not only to make money, but also to insert themselves in the new financial order—Paul Tudor Jones, Stanley Druckenmiller, Nassim Nicholas Taleb.