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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label luck and skills. Show all posts
Showing posts with label luck and skills. Show all posts
Saturday, December 29, 2012

Quote of the Day: The Illusion of Stock-Picking Skill

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Professional investors, including fund managers, fail a basic test of skill: persistent achievement. The diagnostic for the existence of a...
Sunday, September 19, 2010

Distinguishing Luck From Skills In The Financial Markets

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``Luck is far more egalitarian than even intelligence. If people were rewarded strictly according to their abilities, things would still be ...
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