I agree that the data is quite noisy, and the choice of weighting (by users instead of dollar value traded) may significantly influence results. Then again, after reading r/wallstreetbets, I am not so sure ;).
The article reads like it was written by someone who has a deep interest in finance, but hasn't worked much in the industry. Markets are quite efficient, but there are pockets of risk premia driven by…
Trading costs are a thing. In an efficient market I would expect ex-ante negative performance versus the benchmark.
I agree that the data is quite noisy, and the choice of weighting (by users instead of dollar value traded) may significantly influence results. Then again, after reading r/wallstreetbets, I am not so sure ;).
The article reads like it was written by someone who has a deep interest in finance, but hasn't worked much in the industry. Markets are quite efficient, but there are pockets of risk premia driven by…
Trading costs are a thing. In an efficient market I would expect ex-ante negative performance versus the benchmark.