The number of professional asset managers who actually invest for periods exceeding a year is surprisingly tiny. The number of firms (especially American) that wouldn't fire someone who didn't consistently meet/beat expectations each quarter is low.
I work for a proper long term investing asset manager and we are very happy with the lack of competition in our space.
Short term "investors" are really speculating, which is fine, but call it what it is. There's also nothing wrong with using professional managers to look after your money as well, picking individual stocks takes time and paying someone else to do that is perfectly sensible. Just pick someone who genuinely invests for the time period you want to invest with them for.
I work for a proper long term investing asset manager and we are very happy with the lack of competition in our space.
Short term "investors" are really speculating, which is fine, but call it what it is. There's also nothing wrong with using professional managers to look after your money as well, picking individual stocks takes time and paying someone else to do that is perfectly sensible. Just pick someone who genuinely invests for the time period you want to invest with them for.