28 ms·
Are you including RenTech in your definition of "pro"? My working theory is that the vast majority of portfolio and fund managers are full of hot air, but ther
by EE84M3i 2y ago
Are you including RenTech in your definition of "pro"?
My working theory is that the vast majority of portfolio and fund managers are full of hot air, but there are some at the top that are actually successfully using non-insider information that is not well known to their advantage quite successfully.
Unfortunately it also seems that investing in such plays is infeasible except for a select few, so I stick with index funds.
- danielmarkbruce 2y agoNo, rentech are brilliant guys. But, those guys are right out there, they sort of represent nothing even close to 99.9999% of folks in the business. The thing is, most fields aren't basically zero sum (not strictly true, but true enough) like money management. So if you are the 90th percentile doctor or lawyer you are hugely valuable. 90th percentile money manager is losing v index fund.
- markisus 2y agoThis sounds right to me. A while ago on HN someone posed a thought experiment. “What would happen if literally every investor bought only index funds?” This made me realize that you need active investors. Trouble is that no one knows who the good ones are. And the good ones now may be horribly next year.