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hrzn says:"So yeah, in this particular phrasing of the question, with this model, the less likely option is to flip a coin and get head 40 times and the more li
by giardini 10y ago
hrzn says:"So yeah, in this particular phrasing of the question, with this model, the less likely option is to flip a coin and get head 40 times and the more likely option is that there is something else, like talent."
Before concluding "talent" is responsible, you must exclude other possibilities in the "something else" category (e.g., intelligence, insider information, control of upstream/downstream resources, etc.).
Wealth allows access to resources unavailable to those w/o wealth.
- hrzn 10y agoI Absolutely agree. Overall it's probably a mix of many things like luck, talent, insider information, ability to go against dominant investing ideas, where you start in life (if you are wealthy at birth that's equivalent to many coin-flips), etc.