a few years from now the only edge left in public market investing will be temperament. surely ai will surpass human analytical capabilities, but it won’t insulate u from fear, greed, impulsiveness, and impatience.

u might argue even temperament is not a moat because ai will just automatically trade for u, but u will pull the plug because u r too impatient to compound 15% per year and think u can do better than that on ur own.