institutional traders

doing well - not…

Most institutional trades with holding periods of nine months or less lose money.
The shorter the holding period of an institutional trade, the more negative the return of the trade.
More than 23% of round-trip trades were held for less than three months. The raw returns on these trades averaged -3.9% (nonannualized). After adjusting for exposure to common factors (size, value and momentum), the risk-adjusted returns were still a highly significant -1.2%.

some of us using less money could beat this.
but it shows the futility shorter term (here defined as 9 months or less) may be a losers game. And a game where the players are mostly all the same (Ivy League MBAs) means they think the same. And are all judged the same, by quarters. almost by defpnitionmmedocity but the returns are worse than mediocre. Not that I am knocking the idea of earning millions while delivering so little .

B&H clearly beats these pros. Unlike brain surgery , DIY pays off.