A Wealth of Common Sense · 23 October 2026 · Additional Read

Markets Are Always Different This Time

Ben Carlson

Market structure has transformed radically since 1960—from rail-heavy industrials to tech dominance, with trading costs collapsing and information symmetry improving. Despite more data availability, beating markets remains hard because the structural edge has vanished.

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Topics: Banking & Capital Markets · Venture Capital & Startups

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