Also, the FED is in the process of destroying the US dollar and hyper inflating all the assets. Everyone but the capitalists are getting poorer.
The "Chief Economists" of many major US banks dont even hold economics degrees. People arent rational actors that you can plug into a math equation.
"If finding these smaller scale strategies requires expertise, then the expert probably has better things to do with their time. I suppose that holds to arguing with idiots on Hacker News."
Theres alot of friction of getting data to analyze, developing a strategy, executing the strategy, paying fees, managing risk, hedging. If you know how to do all that, you are probably already employed in that capacity or you run your own fund. But yes, if youre smart you can find an edge. Theres a ton of small man shops in NYC with 5 million in capital where everyone makes 600-1M a year.