> I spent years learning industries, learning how to read quarterly report, to identify signs of fraud, and pay attention to the news every single day.
How'd that work out for you? Do you beat the S&P 500 YOY with less volatility? If you account for your hours and trading fees? How many years in a row?
If your answer is yes, you should start a fund! Because statistically, whether a mutual fund or exclusive hedge fund, you're a miracle.
> Like anything you do you have to be committed and determined to be successful.
His argument, seemingly based off the Random Walk Down Wall Street data; which basically shows that no matter how committed and determined you are, the broad based index is going to beat you, if not 1 year, year over year.