| Random thoughts on professional investors |
"Increasingly, professional investors are well trained. They all went to good schools and studied the same textbooks."
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"They all receive the same information or misinformation, including the conventional wisdom of the day. Also, they subscribe to the same information services, talk to the same analysts, and read the same newspapers. With the same training and same information received at the same time, it is hard for them to outsmart each other."
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Managing Your Investment Manager: Complete Guide to Selection, Measurement, and Control (Hardcover), Irwin Professional Pub; 3 Sub edition, January 1, 1992-Arthur Williams III
09.04.2008
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