FYI: Defining what your game is, where you are going to have an edge is enormously important” Warren Buffett
Every successful investor has an edge. And when I say 'edge', I'm referring to the difference we have that gives us an advantage in a situation. In investing, this could be a structural edge such as access to better information or low-cost permanent capital, or it may be an intellectual edge derived from creativity or lateral thinking or a psychological edge like emotional rigor or temperament. It could also mean having a longer time horizon than other investors, or even a better reputation. Outperformance as we know it is usually derived from a combination of more than one edge.
Regards,
Ted
http://mastersinvest.com/newblog/2018/4/16/buffetts-edge
