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top down vs bottom up (Keynes is the best example)


tede02
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I find this so interesting.  Thought others may as well.

 

http://video.cnbc.com/gallery/?video=3000497604

 

http://www.nytimes.com/2014/02/11/your-money/john-maynard-keyness-own-portfolio-not-too-dismal.html?_r=0

 

I love Buffett's final remark, "They [economists] don't make a lot of money buying and selling stocks but people who buy and sell stocks still listen to them."

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My counter-argument to this is: Soros, Druckenmiller, Robertson, Dalio…

 

Not sure those are good examples:

http://brooklyninvestor.blogspot.ca/2015/01/market-timers-vs-macro-hedge-funds.html

 

Why? Those are top-down managers, maybe with the exception of Robertson. I didn't say they made their money with market timing. There normally is a large difference between theoretical economists and risk-taking macro managers but this doesn't mean nobody's earning money with a top-down approach. That's simply not true.

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My counter-argument to this is: Soros, Druckenmiller, Robertson, Dalio…

 

Not sure those are good examples:

http://brooklyninvestor.blogspot.ca/2015/01/market-timers-vs-macro-hedge-funds.html

 

Why? Those are top-down managers, maybe with the exception of Robertson. I didn't say they made their money with market timing. There normally is a large difference between theoretical economists and risk-taking macro managers but this doesn't mean nobody's earning money with a top-down approach. That's simply not true.

 

I was discussing the substance of Buffett's remarks. Not the title of this thread.

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