He only addressed single factor funds. You are misapplying his paper’s findings.Andrew Chen is in a very difficult place. He is telling his entire profession that the efforts of almost 40 years has shown no lasting benefit to real-world investors, maybe none in even the short-term. He knows that is the message but he also knows it is a pretty strong indictment.
His qualified defense of data mining is so out of the norm, but totally fitting with his findings that the text is not helpful, but the data is good.
Statistics: Posted by BitTooAggressive — Mon Aug 05, 2024 3:36 am