Fewer Losers, or More Winners?
oaktreecapital.com
Saved by alex and
Fewer Losers, or More Winners?
Some sources of alpha that require no real skill:
- having longer time horizons than others
- being much more focused or much more bundled
- believing the consensus thing harder than others
- placing no value on status
Jack Altmanx.comLearning to focuson process and accept the periodic and inevitable bad outcomes is crucial.Great investors recognize another uncomfortable reality about probability: the frequency of correctnessdoes not really matter (batting average), what matters is how much money you make when you are rightversus how much money you lose when you are wrong... See more