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A comment on A Professor Who Was Right About Index Funds All Along. Parent comment

Re:A Professor Who Was Right About Index Funds All Along by michaelcampbell on Saturday October 22, 2016 @10:46AM (#12768870)
I believe his point is that you can't, because "actual skills" need not exist. It might ALL be luck, and outliers will exist. And, their existence doesn't prove anything about luck or the lack of it.
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Re:A Professor Who Was Right About Index Funds All Along by Godel_unicode on Saturday October 22, 2016 @02:41PM (#12769962)
Conversely, if the difference between luck and skill is unknowable, everyone who wins might be skillful. As you said, the existence of winners is not revelatory about the existence of skill.

Related: one can be highly skilled and still lose to someone who is highly lucky.

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