On: Insider trading has been rife on Wall Street, acad...

[bjourne]

Is that why 99.9% of the finance industry is about investments in which two days makes an enormous difference?

[semi-extrinsic → bjourne]

The reason why lots of the finance industry is about managed funds is that they can create more money for themselves from charging clients fees than they can from investing their own money in index funds.

[tptacek → bjourne]

By all means, just make numbers up.

[andrewjw → bjourne]

Most of the finance industry is also not about profits on the time-scale of retirement savings, or about minimizing variance for every sample.