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How many people are going to respond to me with this comment? There's firms that beat the market. See: Two Sigma, Renaissance, etc.

• Erlangolem 9y ago
  If enough people flip enough coins, there will be outliers. It’s not proof of the ability to manipulate the falling coin, it’s just how probabilities work. Take the same group and keep them flipping coins, and that becomes clear, but in this case the rewards of luck are persistent, in the form of investment.
  • darawk 9y ago
    Many quant firms beat the market with a consistency that puts their p-values well below the threshold that would be required to make this claim, even given the multiple comparisons problem you bring up.
• CPLX 9y ago
  Of course there are. They do it by figuring out how to get material non-public information. That's been the scam for as long as there has been a stock market, the rest is noise.