annals of really dumb sentencespic.twitter.com/cdwbZsG0Oi
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I mean it's still a tautology isn't it
I guess technically not cause of "record" but still "the best-run funds aren't making very much money, less than other poorly-run funds"
Being well-run doesn't necessarily cause you to make more money
What are the other metrics for "well-run"?
It's not automatically true that it's possible for a hedge fund to be well-run
I guess not, but supposing my definition of "well-run" were lax enough that it includes some actually-existing hedge funds?
If you're a hedge fund skeptic you'd say that funds that look well-run are actually just having a lucky streak
If you believed in EMH you'd probably think that
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