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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (148160)2/3/2002 11:27:04 PM
From: At_The_Ask  Read Replies (1) of 436258
 
That depends on who the control group is and how they apply themselves. The idea that no one can outperform the SPX other than by luck is preposterous. Read both of the Market Wizard books and then decide. Many truly great money managers have returns of over 15% per year for many years at a stretch. The only reason the indexes have performed so well is that we have had a huge bull market for many years. Characterized by giant inflows from baby boomers and their retirement plans. It's a stock pickers market now. Random walk is dead.

I wouldn't consider this as luck.

marketwatch.com;
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