The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ahhaha who wrote (45527)	11/15/2005 1:02:57 PM
From: Mr.Creosote	Read Replies (1) of 110194

This type of discussion usually leads to nowhere. To say that some people have won by being lucky instead of good is not news and doesn't mean anything to anyone. In the markets we have losers and we have winners as measured by their risk-adjusted returns. Some of the losers may know a lot more than the winners but the fact is that they still lost. Some of the winners may not know what they are doing but they still won. We do not know who amongst the winners won by skill and who won by luck. But in trying to find out who really knows the biz I'rather search amongst the winners rather than the losers. In either case most of Hussman's points make sense to me and that's why I read him. You said you know the biz because you've been a hedge fund manager. Running money doesn't mean you know the biz. How do you even know that "you know the biz"? In my view those "knowing the biz" are likely to have won than lost and that's why I think Hussman may be one of those who "know the biz". Cutting down successful people like Hussman in public boards like this one is a personality characteristic usually associated with the losers.

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