Hedge Fund Manager Joseph Walsh: Always Play Weaker Players

Walsh generates edge by avoiding crowded short-horizon trades and instead mapping industry value chains for structurally mispriced links, especially within AI infrastructure.

• Poker-to-trading transfer: Walsh says great poker players are skilled at risk/bankroll management and game selection, picking weaker competitors rather than the hardest games.
• Game selection via time horizon: He avoids crowded 3-6 month factor-constrained trades pods compete in, instead targeting 12+ month horizons and sub-$10-30M/day liquidity names where big funds won't bother.

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