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November 01, 2006



Doesn't this actually tell us more about the crapness of unit trust stockpickers than anything else?


So, Chris, does that mean you're not a consequentialist?


Alex - yes it does. But I was taking a day off from saying so.
Matt - I've got loads of problems with the idea that we can foresee consequences; we just don't have the knowledge or judgment to do so. In this sense, I'm an anti-consequentialist on empirical grounds.


"you cannot judge the quality of a decision by its outcome": Barbarossa.


I still quite like the idea of a portfolio based entirely on rules that exploit arbitrary market artefacts, though. The only pity is that if too many of us do it we'll destroy the alpha.

Oh well, maybe I should dust off my scheme to get rich through an unethical investment fund - where there's muck there's brass.

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