Brad Cornell teaches financial economics at the California Institute of Technology.
He is also the managing director of hedge fund SMBP LLC.
Monday, February 5, 2018
It was just a matter of time
This is what makes investing so difficult. On this blog, I have been wringing my hands for more than a year over what seemed like excessive stock prices. As a result, my hedge fund missed most of the run-up in the past year. But there is an upside. By the end of January, our exposure to the market was minimal. What goes round comes round.