Re: Evaluating Managed Funds
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Take any stock - Altria was mentioned in this thread. 11 million shares of Altria traded today. So, pensions, mutual funds, and individuals bought 11 million shares of it today - and all of those buyers think the stock is going up. But other pensions, mutual funds and individuals sold it today - the same 11 million shares worth! - and all those sellers think it is going down, or there is someplace better for their money. So, who is right?
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This line would also argue that no one can beat a sportsbook over the longterm. After all, someone is always taking the other side of your bet.
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