"Pulling the Goalie: Investment Lessons from Watching Hockey"
March 18, 2025
If you are interested in stock market investing a lot of what Clifford Asness writes (here he is the co-author) is worth reading. (If link doesn't work try this.)
There is one bright spot. Coaches slowly do come to adopt better strategies. It can take decades, but things ultimately move in a rational direction. When this happens, it proves that the stats geeks were right all along, but, more importantly, it also shows that it is possible over time to surmount the social and behavioral factors that too often sabotage the optimal strategy.