This was actually addressed in one of Levine's columns last week (scroll to the second heading, titled "Efficiency") https://www.bloomberg.com/amp/opinion/arti

This was actually addressed in one of Levine's columns last week (scroll to the second heading, titled "Efficiency") https://www.bloomberg.com/amp/opinion/articles/2020-02-20/morgan-stanley-trades-trading-for-e-trade https://www.bloomberg.com/amp/opinion/articles/2020-02-20/mo... Worth a read. Short version is that a lot of the ways people lose money are hard to just do the inverse of.