Yes, but Buffett continued his success for a long time after he’d already been publicly noticed. If you start with a million people, it shouldn’t surprise you if someone gets 20 heads in a row- but if they get 30, you need to look for other hypotheses.
I’m not saying buffet isn’t a good investor. Just that he is far less good than the popular narrative. Investor success follows a pareto distribution. There’s always going to be someone like Buffet.
Yes, but Buffett continued his success for a long time after he’d already been publicly noticed. If you start with a million people, it shouldn’t surprise you if someone gets 20 heads in a row- but if they get 30, you need to look for other hypotheses.
I’m not saying buffet isn’t a good investor. Just that he is far less good than the popular narrative. Investor success follows a pareto distribution. There’s always going to be someone like Buffet.