The average retail trader underperforms the market by 4-5% per annum before costs. Far worse than this after costs. Yes they have negative skill.
The average professional fund manager outperforms the market by less than 1% before the costs they charge to the punters. After costs they underperform.
The average professional fund manager works very hard and has studied finance for years.
My point is you need to do a lot better than average to win.
The average retail trader underperforms the market by 4-5% per annum before costs. Far worse than this after costs. Yes they have negative skill.
The average professional fund manager outperforms the market by less than 1% before the costs they charge to the punters. After costs they underperform.
The average professional fund manager works very hard and has studied finance for years.
My point is you need to do a lot better than average to win.