dsquared:
What Are the Core Competences of High Finance?: Harrumph; I could just as easily say that the core competences of academic economists were a) playing office politics with journal editors and b) recycling the same two or three ideas in irrelevant models. It would be just as kinda-sorta-but-not-really true.
I don't parse the "but not really" in that sentence.
I am reminded of a professor in 1984 telling me that there were good careers to be made reading Keynes's General Theory and stopping every five pages to write an article mathing-up what you had just read.
The baseline for finance is that nearly everybody should be doing buy-and-hold dollar-cost-averaging with a portfolio that is the appropriate for them mix of a Vanguard equity index fund and safe money. But finance does not make it easy for people to do that, and not many people do.
