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It's interesting to think about this decision in the context of Nassim Taleb's writing. If you have a large sample of investors, some of them would be good jus
by jtraffic 9y ago
It's interesting to think about this decision in the context of Nassim Taleb's writing. If you have a large sample of investors, some of them would be good just by chance. It's possible that Chris Sacca is not good just by chance, but we can't really know, and that is an excellent feature of walking away at this point. Most people will just tell themselves that Sacca "beat the game" and left. It could easily be that he got super lucky and realized it.
- oxryly1 9y agoTrue, and the only way to know more about the quality of his decision-making is to wait another 20 years and see where he's at.
- tyrust 9y agoIf he is as successful as he sounds he has probably liquidated enough to last for far more than 20 years.
- dwaltrip 9y agoOf course chance plays a huge role, but entropically speaking, the idea that all investors have equal skill seems a bit absurd. Now, whether "investing skill" is something that can be meaningfully distilled and taught to others is a whole different question. I think the answer is closer to "no" than "yes". The industry-wide distribution of the long term performance of fund managers seems to provide cursory evidence to support this.