Lucas Kohorst

This is a textbook example of the “Era of the Ideological Investor,” where model-driven fundamental analysis becomes irrelevant once the government emerges as the largest sponsor of idiosyncratic dispersion in capital markets. The path to outperformance is no longer better spreadsheets—it is anticipation

Slight aside here, talking about people being “familiar with” things, I find that super subject matter experts can sometimes be very bad at predicting the thing they’re an expert in. That is because they overweight their own expertise."