3min chapter

The Value Perspective cover image

The Value Perspective with Joe Wiggins 2.0

The Value Perspective

CHAPTER

How to Assess an Investor's Skill and Outcomes

You cannot judge whether an investor has skill just by looking at whether they are underperformed or outperformed. You need to understand what their beliefs are, what they believe about investing and how they think they can add value. And only by linking the process and the outcome, can you have any hope of identifying skill? But I would caveat that by saying that there's still loads of noise in investing. So there's no perfect way of doing this - but if you're just looking at outcomes, then really as you're looking at a set of random outcomes that might be due to luck or may be due to skill. Yeah, as far as golf's concerned, I definitely sound like the

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