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I mean surely you don’t think Goldman Sachs, Morgan Stanley, JP Morgon, etc are still around because of survivorship bias? That is, everyone is just flipping co
by mruts 7y ago
I mean surely you don’t think Goldman Sachs, Morgan Stanley, JP Morgon, etc are still around because of survivorship bias? That is, everyone is just flipping coins and some people got lucky.
If you think that’s true, the natural correlary is that all companies are just flipping coins.
- nradov 7y agoThose firms make most of their profit most years from fees, not trading for their own accounts.