Some Scotch-fueled wisdom
At that point I took a time out from my internal rant and thought to
myself, what if I wanted to be a GP? Would I stick myself in this
losers hall and be just another GP who pressed the eject button and
landed safely with a golden parachute? (rant clearly continued) But
what if the fund is more nimble than a rigid one-investment-thesis type
fund? Centuries of thinking have yielded what is analogous to a child’s
epiphany: rational investors should seek the highest return on their
proverbial dollar. In light of this morsel of wisdom, why have we seen
the lines thicken between activity-governed funds? Why aren’t we seeing
more of the ‘We’ll put your cash in the highest yielding segment’ kind
of fund? Is it because people jump on the bandwagon of short-term hot
returns? Or is it because the financially naïve care more about
positive news headlines whilst contributing to financial bubbles? Just
as that notion flashed through my battered brain, I realized that I
could no longer keep a cogent thought nor an eyeball on that bird…Analysts,
economists, actuaries, Oprah, and Dr Phil will go on about this crisis
for the better part of this decade. Many conclusions will be drawn…but
the obvious will not be stated. Fear not, for I will always give you
the only correct conclusion: people are fuckin morons, never
underestimate the collective idiocy of people in large groups.
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