‘Mister, I don’t sell to fish.’

by jh

Hedgefondanalys på researchaffiliates. Lite för mycket finans för mig, men ett kul citat är alltid ett kul citat.

When describing some of the “idiocy of investment management,” Charlie tells a story of an encounter with a fishing tackle salesman who was selling lures that bore little resemblance to fish. “I asked him, ‘My God, they’re purple and green. Do fish really take these lures?’ And he said, ‘Mister, I don’t sell to fish.’” (Munger, 2008).

Via Barry Ritholtz’ “10 Sunday reads“.

Läs för övrigt Nate Silver- artikeln i samma lista!

There are two ways to define “predictable,” I’d say. One is by asking, How well we are able to model the system? The other is more of a cosmic predictability: How intrinsically random is something over the long run?