13Investment Genius or the Thousandth Coin?


Whenever anyone says that beating the stock market is purely a matter of luck, not skill, it always seems to produce the same response. It’s as if people had been scripted to say it.

“Then how do you explain Peter Lynch and Warren Buffett?”

Because of this almost universal script reading, it verges on heresy to suggest that Warren Buffett and Peter Lynch might have been merely lucky. It would be like saying that Abraham Lincoln, without really having any idea what he was doing, sacrificed six hundred thousand American soldiers to grisly deaths by refusing to grant the southern states their request ...

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