This implies that if you search the (preferably obscure) little nooks and crannies of markets, your chances of finding a free lunch are much higher than in popular, liquid markets that everyone likes to play in.
Do you believe that people without special expertise are capable of finding and evaluating those opportunities?
The question is ill-defined, it’s like asking in how many hours can you learn to program in, say, R. The answers can plausibly range from “a few hours” to “a lifetime”.
Besides, in this case some skills will be general (e.g. risk management), equivalent to the ability to code, and some will be very very specific (e.g. knowledge of the regulatory regime in a particular narrow field), equivalent to understanding some library very well.
Do you believe that people without special expertise are capable of finding and evaluating those opportunities?
What’s “special expertise”? Like most everything in life, this requires the capability and the willingness to learn and figure things out.
How many hours do you think the average person on LW would need to invest to pick up the relevant skills?
The question is ill-defined, it’s like asking in how many hours can you learn to program in, say, R. The answers can plausibly range from “a few hours” to “a lifetime”.
Besides, in this case some skills will be general (e.g. risk management), equivalent to the ability to code, and some will be very very specific (e.g. knowledge of the regulatory regime in a particular narrow field), equivalent to understanding some library very well.