This thesis even applies to practical markets and the intelligentsia. It must—and it has. This is why everything that has propelled society forward required a legitimate tastemaker.
It’s funny how they can be disciples of a Graham or Buffett, yet deny anyone else in all of human history who was a disciple of anything else. It’s especially ironic that so many of the figures they revere are directly or indirectly on the Epstein list. If you know how to read the files, you can see how they accumulated their AUM based on their mid asset allocation.
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