Santangel's Review



Money managers have always lamented the short-termism of their investors. Now there is evidence that short-termism has reached new highs, as this article indicates.

It stands to reason, however, that if short-termism is selling at a premium, long-termism might be selling at a discount. Those strategies that exploit illiquidity and time arbitrage should perform even better in this kind of environment.

Bruce Kovner of Caxton Associates