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>They can’t get there just by default or by being lucky. Why do you say that? If I ran a League of Coinflip Guessers with 10,000 entrants, someone would still
by cool_dude85 4y ago
>They can’t get there just by default or by being lucky.
Why do you say that? If I ran a League of Coinflip Guessers with 10,000 entrants, someone would still win the league, and probably with an astonishing score too. Why not the same with stock returns? You have 10k managers it stands to reason some of them will by pure chance beat whatever metric you set.
- Gatsky 4y agoI guess the analogy would be if every year the same people keep finishing in the top quartile in your coin league, at the same time as failing to make the expected losses dictated by chance.