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But then it's coming at the expense of some other investor (unless I'm misunderstanding.) No value is created. This might work if the amount being invested is s
by ganeumann 12y ago
But then it's coming at the expense of some other investor (unless I'm misunderstanding.) No value is created. This might work if the amount being invested is small, but not as it grows larger.
- sliverstorm 12y agoYes, at the expense of someone else. It can still work as the amount invested grows, if you are in a position with a reliable feed of such information. See Plunkitt's "honest graft".
- ganeumann 12y agoMy point was to capital as a whole (that is, all of the capital.) When I say "get large" I meant as a large percentage of all capital. Even multi-billion dollar funds have this problem, and that's just a tiny fraction of all capital.