2-1a6 ‘Incentives’ - Incentives drive (almost) everything. Understand your incentives.
2-1a6a Understanding incentives amounts to understanding its culture
6-3b3 Don’t think corporate network structure (especially its incentives) is the norm
- Who is buying? What motivates them? How big are they?
- Very different from value investing
- Different institutions have different motivations
- Some have to chase trend
- Some do the opposite (rebalancing)