We live in very different worlds.
Mine is data and numbers and statistics and facts. In the investment world, by how well your theories of what is really going translates into an investable theme; you are judged by performance, not rhetoric.
Your world is all soft theory and suppositions and squishy reasoning and hard-to-prove causation. In my world, it would be described as "not actionable in the investment realm."
I am happy to visit, but the commute is a bitch.
Funny, though, but I've presented 95%+ plus of the "data and numbers and statistics and facts" in this discussion. Barry had only one set of numbers, and when I pointed out how they were too narrowly specified and were generally irrelevant, well, he had shot his wad in the data department and was forced first to make concessions, then to go back to this kind of bluster.
By the way, Barry, did your "investment world" do a really bang-up job of assessing the value of all those mortgages issued in, say, Riverside-San Bernardino in 2005? (Numbers that were readily downloadable from the federal Home Mortgage Disclosure Act database by October 2006, well before the crash?) Maybe, just maybe, your peers were missing a piece of the puzzle intellectually that would have enabled them to make sense of the numbers?
Barry, it's not your fault that you wrote a whole book about the Crash without thinking about the Diversity angle. Nobody thinks about the downsides of Diveristy. It's just not done in polite society You don't have to get your ego all tied up like this in trying to bluster your way out of admitting you made a mistake. Everybody made the same mistake as you.
The interesting legal question is whether it's against the law to use my insights in offering investment advice. It would almost certainly be disastrous for a mortgage lender to be caught in discovery of a discrimination lawsuit exchanging emails about the higher rates of defaults among Non-Asian Minorities. But is it illegal for an investment adviser to use ethnic demographics in, say, advising clients which states' bonds to avoid?
Certainly, the most sensible thing for an investment adviser like Barry to do would be to incorporate my ideas in his decision-making while loudly claiming in public to not believe them.