Thank you. I’m a little ashamed to admit it, but in an earlier draft I was much more explicit about my doubts about the effectiveness of SM’s intervention. I got scared because it rested too much on my geneal priors about intervention and I hadn’t finished enough of a review of the literature in which to call BS. (Although I was comfortable doing so privately, which I guess tells you that I haven’t learned from the FTX debacle)
I also noted the SM partners issue, although I couldn’t figure out whether or not it was the case re: costs so I decided to leave it out. I would definitely like to see SM address that concern.
HLI do claim to have seen some private data from SM, so it’s unlikely (but plausible) that HLI do have enough confidence, but everyone else is still in the dark.
Thank you. I’m a little ashamed to admit it, but in an earlier draft I was much more explicit about my doubts about the effectiveness of SM’s intervention. I got scared because it rested too much on my geneal priors about intervention and I hadn’t finished enough of a review of the literature in which to call BS. (Although I was comfortable doing so privately, which I guess tells you that I haven’t learned from the FTX debacle)
I also noted the SM partners issue, although I couldn’t figure out whether or not it was the case re: costs so I decided to leave it out. I would definitely like to see SM address that concern.
HLI do claim to have seen some private data from SM, so it’s unlikely (but plausible) that HLI do have enough confidence, but everyone else is still in the dark.