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Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More
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Regression Towards the Mean
The paradox of skill has gotten so extreme. Will we ever see someone who has the 60 plus year track record that warren did ever again? Or will no one ever be able to match that? It's a fascinating question. There are certain statistical streaks that i think are going to be very difficult for people to match or exceed. You can't have a streak without having a lot of skill and a lot of luck. Need both components to it.
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