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Your Guide to the Bull Run | Raoul Pal

Bankless

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Admitting the Inefficiency of Strategies

In certain investment sectors, such as equity stock picking hedge funds, admitting that a more profitable trade option is available questions the fundamental purpose and challenges the ego. Despite managing large sums of capital for numerous investors, hedge fund managers face a significant psychological hurdle in acknowledging that traditional long short value investing strategies may not always outperform. This resistance to accepting facts and embracing new opportunities results in a bell curve distribution where individuals refuse to see the risks involved and prefer to stick to conventional methods. The essence lies in the understanding that a network attracting more participants holds more value, a principle extensively applicable in the realm of cryptocurrencies where owning the network contributes to its growth.

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