They don’t think it be like it is, but it do.– Oscar Gamble (1949 – 2018)
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They Don’t Think It Be Like It Is, But It Do
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This is a really interesting little note, maybe even more relevant right now than when it was written (even for us lost, non-finance pros) — the tyranny of benchmarks, and of how these indexes and commonly-used measurements dominate thinking about certain “styles” of investing seem to lead to some interesting blind spots. Been thinking about how labeling and defining a “category” for anything seems to end-up “forcing” people into that category, perhaps very relevant to investing (maybe especially “factor” investing)? Either way, ?.