"Or, will it render all boats permanently beached, albeit in relatively pleasant weather, but where no more superstars are ever born, although everyone at least does get a chance to be heard, even if it's only a couple of times?"
Something like that. Pre-'net, I used to wonder whether there'd ever be another mass phenomenon like the Beatles, and concluded no.
The reason lay in recognition of what had been done, and attraction of others to variants of the same game.
Not to say there haven't been others. There have; some with bigger spot numbers.
Now, despite the fact that The Music Machine has refined techniques to the nth degree, it's hard for anyone to capture and hold that kind of dominance.
Post-'net, widespead recognition and/or exploitation of new market opportunities is accelerated. Your post here...
Message 23045134
...made the same point (in a way) from a totally different perspective. Arbitrage opportunities have very short lifetimes, these days.
"Returns in the various statistical arbitrage strategies display asymptotic profiles, where early alpha generation is eventually squeezed to zero as more brains and assets focus on the strategy in question."
It's a bigger pie, but everyone gets a thinner slice, hard to hold on to. It's not long before someone's doing a variation on your theme.
Big winners will have shorter lives. Commodities will still be ruled by supply and demand, but fragmentation, differentiation and stratification will permeate other markets.
IMO, anyway.
Jim |
