As per Barry Ritholz's Masters In Business Podcast there are now more hedge funds ( 11k) than Taco Bells.
We have been researching this, the top fund returns have been following the QE curve, and the best they could come up with is 1% of fees on AUM, with all that liquidity and 5,000 year low interest rates it's pathetic. No one in their right mind will leave their capital at risk if there's even the slightest hint of tapering. There are only a handful of us who designed strategies without QE in place, and suddenly this past month I've been getting calls, we need your knowledge but embedded in our QE model, like it works that way! Assuming securitized sovereign debt doesn't catch on as "New QE", the inefficiency is legendary.
Thought it was above everyone's pay grade, so much for Elite, but I've learnt a little trick "Better to remain silent and be thought a fool than speak and remove all doubt" - it turns out you can also invert it on people who have cognitive dissonance, given that's most of society these days time to have some fun!
Firstly, did you realize what the dictum you've quoted actually implies? Given that it all started with you spouting all sorts of nonsense... Oh, the irony! Secondly, yes, everyone is dumb and you, sir, are the only genius on ET. In seriousness, what do you think the probability of this actually being the case is?
I am the middle finger of the handful. Don't let these people get to you. After all, we don't need two handfuls with our knowledge! We are better off closing our mouths and becoming a fist!