Perold: Investment edges are often competed away before investors realize it
Andre Perold · André Perold – Academic Practitioner (Capital Allocators, EP.02) · Apr 13, 2017 · at 38:31
André Perold, CIO of HighVista Strategies and former HBS professor, discusses lessons learned from practical asset allocation versus academic theory.
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“I think the biggest lesson has been that the world is extremely competitive, and that competitiveness is not something you see until later in a given area. So you think you found something, you think you're the first to see it, or maybe the second or the third, and you realize later that you were just one of many, and it's already competed away before you can actually take advantage of it.”
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