Expertise takes time, lots of time. Nothing could be more true than designing market applications which provide trading solutions and analytic content focused on understanding risk. For those who skip around from one venture to the next, there is little hope. For those who have never committed themselves to a goal of product and application design, they must settle on being mediocre. Whether investor or high end high frequency trader, a commitment to process and design takes enormous sacrifice and a huge amount of time. The search for alpha clearly puts at peril the performance of not only large fund operations due to popular investments
which breed huge bets with processes which do no fully understand risk parameters, but even the performance of operations with smaller trading goals. The 10 year rule applies to all software and application design. If your models failed in 2008, well, it was a great test of your expertise on risk.
