https://www.wealthfront.com/blog/illusion-stock-picking-skill/ https://www.wealthfront.com/blog/illusion-stock-picking-skil... > most buyers and sellers know t

https://www.wealthfront.com/blog/illusion-stock-picking-skill/ https://www.wealthfront.com/blog/illusion-stock-picking-skil... > most buyers and sellers know that they have the same information as one another, what made one person buy and the other sell? > the evidence from more than 50 years of research is conclusive: for a large majority of fund managers, the selection of stocks is more like rolling dice than like playing poker. > the year-to-year correlation among the outcomes of mutual funds is very small, barely different from zero. The funds that were successful in any given year were mostly lucky; they had a good roll of the dice. There is general agreement among researchers that this is true for nearly all stock pickers, whether they know it or not — and most do not