A. Those experts are beaten out by random stock picker software over long term.
B. The entire industry requires the government bailing them out, regulating their small competition out of business, huge infusions of cash via the Fed, and a complex legal structure that pretty much limits your investment options to stocks and bonds or your mattress.
C. For people who claim to be able to predict the future they sure need other people’s money a fair amount. Pensions, managed market accounts, 401Ks, trusts. If you really could best the market you would never team up with anyone since all they would do is open you up to liability
D. When those wall street scumbags do take over the management of a company the company consistently fails. It turns out pledging to Skull and Bones after daddy got you into an ivy doesn’t mean you can run a retailer or a tech company. Who knew? Remind me how Toys R US, Sears, and Fluke multisystems are doing.
E. There is a link between growth in finance and poverty for everyone else. Which makes sense since it sucks away people from productive work to unproductive work. As Wall Street grows in the US incomes for everyone else have fallen.
Economics is bullshit lies that aspires to the accuracy of astrology. Economists are shills with zero integrity. Financial bros are conmen.
But thank you for your reading suggestion. If I ever want to read up on mathematical models that have no connection to the real world based on a sociopathic paraody of humans I will. Everything you want to know about the types of people who become economists can be understood if you know who their hero is. Homo economis a being of pure self. Is there any in particular book you can recommend? If so what chapter is titled “fuck the diabetics, let them mortgage their house for insulin”?