One of the differentiating features between smart and not-so-smart investors in my view is their ability to know how much of investing is not only beyond their control, but simply the result of random events. Note that in the previous sentence, I did not differentiate between smart professional investors and not-so-smart retail investors, simply because I know that there are professional investors who don’t realise how much randomness there really is in markets and how little their performance really has to do with their decisions.
Thanks a lot for the interesting read! A question that pops up immidiately when reading this: How to generate consistent profits in such an environment?
Thanks a lot for the interesting read! A question that pops up immidiately when reading this: How to generate consistent profits in such an environment?