The Four Pillars of Macro with Andy Constan
Excess Returns
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Do You Think Technology Has Made It Much More Difficult to Get an Edge?
The amount of capital that's deployed for various types of trading strategies in itself by and large increases along with the size of the market, but is very cyclical. People who were doing capital structure arbitrage before the great financial crisis lost all their money in thegreat financial crisis. So those types of strategies go out of favor for a period of time, and there's quite a bit of alpha available.
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