Money, money, money (and investing) (2015)
I love the belief in the efficient market hypothesis as an active investor, because it means so much less competition. I am saddened by the belief in the efficient market hypothesis as a lover of fellow humans, because it is such a colossal untruth that it harms people immensely and takes away agency.<p>If you understand an industry or market segment deeply, you can indeed do much better than the index within that segment. It’s a fact born out by my own experience - you can separate a MongoDB from an AWS if you know a bit about technology and don’t look simply at press releases and Gartner reports.