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And Bear Stearns, and Washington Mutual, and Deutsche Bank, and AIG, etc., etc. "It is safe to assume they know what they are doing" because they're managing a
by nostromo 7y ago
And Bear Stearns, and Washington Mutual, and Deutsche Bank, and AIG, etc., etc.
"It is safe to assume they know what they are doing" because they're managing a ton of money has been proven wrong over and over again.
- dahfizz 7y agoNobody is claiming that money managers have omniscience. What they do certainly have is more information and expertise than a random internet commenter. They don't know everything, but it's safe to assume they know more than you.
- TheGRS 7y agoWell the actual decision-making tends to be more important than just what one knows. A pile of cash seems more indicative of investment paralysis than some grander strategy. Like, "we can't figure out the best investment to make with this money, so the safest thing we can do is hoard it until we come up with a better idea".