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Yeah that's the thing with investing. Markets change, trades get crowded, data/tech gets commoditized, and strategies stop working. If you do not have a proces
by steveBK123 3y ago
Yeah that's the thing with investing.
Markets change, trades get crowded, data/tech gets commoditized, and strategies stop working. If you do not have a process and evolve, you are roadkill.
So some guys who are early, big and right can attract a halo that long outlives its reality.
To build some piece of tech you need to have some sort of process, and it is probably replicable to building another piece of tech. It is entirely possible to just get lucky right place, right time and make a killing investing for a good run before your lack of process catches up with you.
Half the "Big Short" guys fall under the same category as Dalio & Gross.
But hey, if you make your number and then can graduate into "thought leadership" its not such a bad gig either.
- voisin 3y agoNot all strategies stop working. See “The Super-investors of Graham-and-Doddsville” https://gromnitsky.users.sourceforge.net/lit/buffet1984/ https://gromnitsky.users.sourceforge.net/lit/buffet1984/
- aatd86 3y agoBuffett seems to do quite well for himself from what we often hear.
- tonyedgecombe 3y agoOr maybe not: https://seekingalpha.com/article/4423498-berkshire-hathaway-versus-s-and-p-500-through-years https://seekingalpha.com/article/4423498-berkshire-hathaway-...
- aatd86 3y agoNot bad, that seems to be exactly what the parent post says. Guess it's all about that smart beta :p /jk Investment rationale: "Just follow the herd, don't be a midwit."