🔖 Pulling the Goalie: Hockey and Investment Implications by Clifford S. Asness, Aaron Brown | SSRN

Bookmarked Pulling the Goalie: Hockey and Investment Implications by Clifford S. Asness, Aaron Brown (SSRN)
We build a simple, but powerful and intuitive, model for when a hockey coach should pull the goalie when trailing. When the model reports that the coaches aren’t doing it nearly early enough, we then ask why, and take away some key lessons for portfolio and risk management, and business in general.
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