Friday, September 28, 2012

This is What's Wrong w/ Wall Street

Curious why legendary hedge fund managers are shutting down shops left and right in disgust with the mockery that central planning and algorithmic short-termism had made of equity markets? Don't be: his name is Julian Marchese, he runs a "macro fund"... and he is 16 and - he says he's been trading since the age of 11!

Someone who has never even seen half of a business cycle starts running your money, and, probably worse, starts making money, which leads them to believe they know what they are doing, and then gets gullible LPs to allocate capital to them based on a 3 month track record, when in reality the entire market is one merely primed for outperformance courtesy of central planner puts and priced to Bernie Madoff ponzi perfection, targeting a specific investor type.

This is what's wrong with Wall Street - and mainstream media outlets who give credibility to the notion that on Wall Street - even a kid can manage your money!

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