Well it's kind of tautological that if you can * Achieve the mean * Add some kind of noise to that You have a chance of beating the mean. But I think when p

Well it's kind of tautological that if you can * Achieve the mean * Add some kind of noise to that You have a chance of beating the mean. But I think when people say "beat the market", they mean a better than 50% chance due to some secret sauce. Or, beat the market repeatedly, which variance is unlikely to do (if chance of beating the market one year is 50%, chance of beating it 10 years running is only ~0.1%)