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Jeff Ma – Making Decisions with Data - [Invest Like the Best, EP.151]
Invest Like the Best with Patrick O'Shaughnessy
The Challenge Is the Liquidity
In betting and margats, these things won't go away their human nature. And the question is, can enough smart participants overcome their bias and sort of eke out that edge that does exist? I think you could argue in public stock markets, that the dumb money so to speak, has sort of been pushed out; they are just opted out of the game. In gambling, which is much more recreational, it seems like the runway could be much longer. The challenge is being able to actually deploy capital,. Even though ther's a lot of dumb money there, there's no incentive for the market makers to allow smart money. So i think these are like some of the classic biaces
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