Demandingness can apply to objective claims as well. “There is a storm coming that will destroy everything”. The fact that stuff exists now makes such a storm less likely; not impossible but certainly evidence against a storm of that severity. Existence can’t be so hard as to preclude life, we really did catch a break. The anthropic principle seems directly analogous to what you are getting at.
Many people believe ethics is situated. Just as knowledge is known by someone, moral acts are done by someone and towards some end. The fact that, on the margi...
I don’t think this summary does a sufficient job of capturing the nuance of the argument being put forth. It also might be giving the impression that the critique is based on a misunderstanding of EMH, which his first paragraph well states. The author is directly claiming there is a clear mis-pricing in assets that offer a greater than total market risk-adjusted return. It is one thing to claim he is talking his book, which he is, it is quite another to ascribe ignorance to the view articulated without reckoning with any of the arguments.
Momentum as...
Assuming Sharpe tops out at 0.5 seems wrong. Over the last 5 years, Bitcoin has had a Sharpe ratio of 1.6 the Wilshire 5000 has had a Sharpe of 1.04.