The Goal

Manager John Hussman wrote:

In any case, my job isn’t to convince others of our own investment viewpoint or to nudge investors away from their own particular discipline. My job is to articulate our own as clearly as possible, so our shareholders understand what we are doing and why.

That is also my view about my students. Of course, I do my fair share of ripping financial and market nonsense, but I don’t wake up with the goal of swaying fundamental story tellers or angry critics. They are not changing regardless. My goal is more in line with making sure my students understand what they are doing and why.