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Yea, all that's true, but Eli has a significantly easier job. A professional manager has to make a lot of decisions and still has to invest money even if they
by Simon_says 9y ago
Yea, all that's true, but Eli has a significantly easier job. A professional manager has to make a lot of decisions and still has to invest money even if they don't have any insightful ideas. On the other hand Eli will only invest if he gets a good idea, and if not, then no investment.
- lisper 9y agoThat's no excuse. Eli can always park his undeployed capital in an index fund. So if he can consistently pick winners 80% of the time he'll still beat the market even if he has fallow periods.
- Simon_says 9y agoExcuse for what? Of course Eli can do that, and it has nothing to do with my point.
- lisper 9y agoExcuse for not taking his (alleged) talent to Wall Street and making billions of dollars. > it has nothing to do with my point which was: > A professional manager has to make a lot of decisions and still has to invest money even if they don't have any insightful ideas. Implying that Eli's talents could not be deployed on Wall Street because he could not operate under the constraints on which professional money managers have to operate. But that's not true.