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urgjotonlkec t1_j3rs2vy wrote

Reply to comment by LordFaquaad in [OC] Mr. Buffett - The Older The Wealthier by LeverageShares

In any efficient market winning and losing is 100% luck just like a casino. Obviously if you have enough money you can push people around in a way that an average investor can't, but even getting to that point takes a lot of luck.

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LordFaquaad t1_j3rzq86 wrote

You're telling me that every major investor is just luck? It had nothing to do with skill, knowledge and understanding?

Also the efficient market states that prices are representative of assets. This is simply not true in the current market. The market isn't a casino that has priced in everything all thr time. The companies have Financials and based on those Financials and other factors, investors make decisions.

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urgjotonlkec t1_j3s198c wrote

>You're telling me that every major investor is just luck? It had nothing to do with skill, knowledge and understanding?

Yes, that's a pretty common school of thought supported by considerable research. For instance people have looked at the fund managers with the highest performance in given years and there's no correlation year to year.

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