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How about Berkshire Hathaway itself? http://www.businessinsider.com/warren-buffett-berkshire-hathaway-vs-sp-500-2015-3 http://www.businessinsider.com/warren-bu
by throwawaymsft 10y ago
How about Berkshire Hathaway itself?
http://www.businessinsider.com/warren-buffett-berkshire-hathaway-vs-sp-500-2015-3 http://www.businessinsider.com/warren-buffett-berkshire-hath...
You can think he got lucky 50 years in a row (1/2^50, what're the odds? Does it invalidate the null hypothesis?) or that investing involves an element of skill.
It's impossible to predict who will win a poker tournament but winning games is a skill, and certain players consistently do better than others. Sure, I wouldn't advocate the average person try to make money with poker, but it's disingenuous to pretend it's a black art.
- baccredited 10y ago>How about Berkshire Hathaway itself? Warren Buffett to heirs: Put my estate in index funds http://www.marketwatch.com/story/warren-buffett-to-heirs-put-my-estate-in-index-funds-2014-03-13 http://www.marketwatch.com/story/warren-buffett-to-heirs-put...
- throwawaymsft 10y agoIt's good advice for most. I'm sure poker champions want their money invested similarly (instead of having their children attempt to grow their wealth by following their footsteps). But we shouldn't deny that investing is a skill.