Over time I have formulated a belief system that goes something like this: Anyone who is beating the average, is either lucky, or cheating. The basic theory s

Over time I have formulated a belief system that goes something like this: Anyone who is beating the average, is either lucky, or cheating. The basic theory supporting this is that in any given endeavor you can assume the average participant is trying to improve their situation. This puts them in competition with everyone else, who similarly, are trying to improve their situation. The result, is a net 0 gain. We might all get stronger by going to the gym, but relative to each other, we're stagnant. To make 'non-average' advances, you need an edge. In stocks, I think it comes in the form of insider trading, or highly advanced HFT access. The average Joe trying hard, has no more a chance at beating the average than they would in a game or coin flipping.