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.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.