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Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More
Acquired
The Hockey Players Are the Most Skilful Players, Right?
In public market investing, the numbers appear to be random, or partially random, in large part because markets are so good. But there is persistence inventure in particular, and that stands out relative to a lot of other asset classes. And then here's the last thing i want to say about this luck and skill thing, which is, and this goes back to base rates, right? Which is wer get away with that! We want the petids my pet theory came out of network theory. So you guys can tell me, you can shoot me down but it came out of Network Theory.
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