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- Success in investing can come from strategic mediocrity by consistently outperforming others steadily and smartly.
- Distinguishing investment skill from luck can be complex, with observable factors explaining much of success but leaving room for unique 'magic'.
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Strategic Mediocrity in Investing
In the podcast episode, the concept of strategic mediocrity in investing is explored through the story of a money manager named Ben Trosky. Ben believed in not taking excessive risks but rather staying consistently in the top third of performers in his market. He aimed to be in the top decile over the long term, focusing on outperforming others steadily and smartly. Ben's approach emphasized avoiding reckless behavior and focusing on long-term success for himself and his clients.
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Listen to the best highlights from the podcasts you love and dive into the full episode