Joe Weisenthal

If you want some entity that has

How do all the puzzle pieces fit together, which is the essence of portfolio construction?

Then theoretically, you just want like a really big company that understands all of it.

I also thought, and it was kind of also on the source of edge question, is we've talked about this before.

It always seems like one of the fun jobs in finance would be the channel check person.

The person who goes to the mall.

Yeah, the field trips.

It's like, okay, how many sweaters are on the gab shelf?

Whatever.

Maybe that becomes even more valuable because things that have not yet been put into a model.

Yeah.

And look, I love that people listen to odd lots.

I love that people read the news, particularly financial news on Bloomberg.

I've never thought by and large that people read an article and it's like, I'm going to make an investment decision based on that.

Hopefully it helps inform their thinking or their process in some way.

But no one listens to a podcast and then goes out and buys the stock, by and large.

But it's because once it's out there in the digital world, it's kind of priced in already.

So there's going to be an intense hunt for information that truly has not been put into the model yet.

But right.

Like the value of people who can find information that has not turned into trade training data yet for a model.