this post was submitted on 20 Jan 2024
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Elizabeth Holmes barred from federal health programs for 90 years (arstechnica.com)
submitted 11 months ago by L4s to c/technology
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Elizabeth Holmes barred from federal health programs for 90 years::The former Theranos CEO is barred from receiving payments from federal health program.

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[โ€“] Dremor 20 points 11 months ago (1 children)

Investors have money, not brain. I remember an experiment where their compared a fund run by people and another one run by investing totally randomly. The second one won. Investment has never about being good at it, it was always luck that ran the game. We just hear a lot more about those who won big rather the those who ruined themselves.

[โ€“] [email protected] 2 points 11 months ago

There are exceptions to this, like Yale, Renaissance, Berkshire, and maybe Citadel. But most, even well-known funds, are run by incompetent people demanding extremely high fees, rendering any advantage they have over index funds essentially null (often even underperforming the market).