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This is an important point: what any professional investor (i.e. someone with a fiduciary duty to their company to attempt to make money through investing, rath
by derefr 2y ago
This is an important point: what any professional investor (i.e. someone with a fiduciary duty to their company to attempt to make money through investing, rather than just gambling) says in public about their investments, is going to be far more about manipulating the market than observing the market. If they honestly expected their observations to exactly predict the future, publicizing them would just lose them all their alpha.
- everybodyknows 2y ago> about manipulating the market It's also about manipulating their clients' opinions -- say, in the direction of believing that staying with Elliott will, eventually, work out better than moving everything to ARK. > If they honestly expected their observations to exactly predict the future, publicizing them would just lose them all their alpha. Not if they're talking about positions in which they're already fully invested. In that case they are "talking their book".