The article reads like it was written by someone who has a deep interest in finance, but hasn't worked much in the industry. Markets are quite efficient, but th

The article reads like it was written by someone who has a deep interest in finance, but hasn't worked much in the industry. Markets are quite efficient, but there are pockets of risk premia driven by regulatory/intermediary constraints and plain old behavioral bias. Then again, if he knew about them, he presumably wouldn't write about them in an internet blog post.