steephills

Pics or it didn't happen! We should not fall below wallstreetbets standards on HN.

Really? So you're saying, not all $10tn of quant funds in the US market are managed in the way you just described?

Yes, I just wanted to make a point: things that have names, that have a paper written about them, that have Wikipedia pages or even Nobel prices attached to them are in the same category. The market has priced them in decades ago.

Thinking you can read Fama papers to take on quant funds, like smabie is claiming at several places in this thread, is like reading Commodore manuals to take on AlphaGo.

Taking EPS as proxy for alpha is like trying to recognise banana pictures by looking at average yellow content: it is plausible, but roughly 100 years behind the other market participants. Don't do this kind of stuff with your hard earned money...

According to this article, the biggest R&D spenders in pharma are EU firms:

https://www.evaluate.com/vantage/articles/data-insights/othe...