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Luck vs. Skill In Active Management

FYI: The basic premise is that there are always going to be big winners, but no one knows for sure if it’s because they’re actually skilled investors or if it’s because they happen to be the luckiest dart-thrower that came out on top.
Regards,
Ted
http://awealthofcommonsense.com/luck-vs-skill-in-active-management/
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