For a while now, a few authors have been quipping at Zero Hedge that the best investment strategy is to do the opposite of what Goldman Sachs is telling is retail customers.
Click through for the punchline.
Yesterday at coffee, a friend of mine was ranting about how investment bankers don’t seem to be any smarter than the rest of us — they only have better bullshitting skills. (Yeah, he’s been on an exclusive diet of Michael Lewis for the past few months, though now he’s on Nassim Taleb.) This datum increases my confidence in his conclusion.