Burt Malkiel Says There Are No Geniuses on Wall Street | The Businessweek Show

[@Hanseatic7104]

Burt Malkiel and Jack Bogle have done society a huge service by demonstrating that market developments cannot be predicted in the short and medium term and that investments in broadly diversified index funds with low costs are the most successful investment strategy for the average citizen in the long term. If you don't want to invest but would rather gamble, there will always be meme stocks, day trading, knock-out certificates, etc. With a lot of excitement and the same result over and over again for centuries.

[@TrangLe-yb5sy]

What a contrast when Mr Malkiel sits and speaks in a calm manner while the host makes a lot of moves.

[@afihaileywibowo1095]

Without being condescending, 😂 he has..(I can't enumerate) of Prof.Malkiel's years of wisdom and experience. That great great great grandson perhaps is a typical young generations attitude. Agree it kinda mess with the interview.

[@genzinvesting8405]

“Chat GTP” - Legend

[@jimwatchyyc]

Best book ever on the markets!

[@freeroamer9146]

Had the questions been more objective, so much more could have been gained!

[@larrygerry985]

The genius is accepting that most of it is luck. The question is more if you can identify the opportunities

[@callroland]

Luck is when preparation meets opportunity.. Is that what you mean? Genius would be luck in meticulously preparing for something, and when that something occurs, catching it the right way.. There is a book out .. "More" is not "better". "More" is "different". Wall Street does not grow to be better. It grows to be different.

[@kiuk_kiks]

There’s genius in insider trading, Ponzi schemes and junk bonds 😂

[@far1762]

Nu cred ți se da dar în timp dai puțin puțin înapoi e normal te akyty

[@theonlycaulfield]

Inaccurate clickbait title. He didn't say there were none, he said he didn't like using the label. Also, Malkiel's logic of not giving people credit for betting on crashes because other people did not bet against crashes made little sense.

[@Connor_JR]

To be charitable, I think the point he was making was that, on paper, there were people just as intellectually gifted who got it wrong. Were they geniuses too, until that point? Or was it just the unlucky side of the two faced coin?

[@Yotrek]

He’s right, a continually depreciating currency is a ponzi that necessitates the creation of complexity.

[@MikaJarvi86]

Marty Schwartz and Stanley Druckenmiller are geniuses on Wall Street for example. Mr. Malkiel will never admit there are any geniuses, because that would contradict his book. But please go and ask any mathematician what are the statistical odds that you make +1000 trades every year, and consistently beat the market for 30 years?

[@cristianfamigliuolo]

A.I, Brought up again this time! 😂 Modern artificial intelligence is made on the basis of human neuronal processes so since there is no "genius" Al will never gain, and will never be better Of human functioning😂. The other story is can a man program the machine better than himself? The answer is no! And Embedded Labor exists.

[@rolandnelson6722]

“For every one of them there were others that lost money.” They aren’t geniuses because others are dumb. That’s some novel reasoning there.

[@pluto8404]

lots of advanced probability theory came out of wall street.

[@ctrl-shift-run8681]

The true genius is privatizing profits and socializing costs. Too big to fail lol.

[@natantataii8195]

Hahaha Mr. Malkiel answer to financial inequality was straight to gender and race. Burt is one of "them".

[@lorenzkraus6888]

Marketing genius, not financial genius. :)

[@notheotherklaus]

Old news

[@oroebuck]

There are. It's identified by consistent and repeated extraordinary success that isn't the result of anyone's subjective decisions. Because, when it comes to repeated and consistent extraordinary success, there isn't that much luck in the world.

[@inthedepthofsadness]

I can’t predict the future . Finance since the beginning was the business of solutions not predictions.

[@billie.]

Is wall street not majorly about prediction and projection.

[@MuchoMate]

Not a fan of this presenter, too much histrionism I'm sure he's a great person etc though

[@JamesMEsler]

Misunderstanding by an old man

[@knnmran]

if you don't like Bitcoin you have probably not spent enough time looking into it.

[@sanjana1399]

its not even real

[@knnmran]

​@@sanjana1399 well, it is digital so there is some truth to what you are saying.

[@mimi21746]

@@sanjana1399 So the Dollar is real, because you can see a paper of it ? The dollar is printed to existence, nothing tangible backs it, there is no limit to how much it's printed. I

[@sanjana1399]

@@mimi21746 yeah but its legal and regulated by the govt

[@mimi21746]

@@sanjana1399 Bitcoin is not illegal. Bitcoin is built on a Blockchain and is decentralized, it self-regulates it's supply and cannot be attacked, making sure its owners always have their assets secured. I think you'd have to go deep on the meaning and application of Common Law to understand that Bitcoin is not illegal and that is why it has not been banned in any liberal democracy.