America’s banks are missing hundreds of billions of dollars

Re:America’s banks are missing hundreds of billions of dollars by bluGill on Thursday March 23, 2023 @09:07AM (#35274138)

There are a handful of people - Peter Lynch, Warren Buffet... That over the years have proven that thesis false. The vast majority do not beat the market, but the vast majority are investing on emotion and fads.

I would have completely missed amazon and google, but there were other companies that would for a while grow at better than market rates that I would have found (or so I think!), and would have been able to get out of in time (this isn't hard because I don't need to call the top, I can be off by many months and still have a nice return). These companies carry much less downside risk vs dot coms - most of which failed, and part of doing well long term is ensuring that your losses are not good because you will have them from time to time.

Note that you don't have to beat the market by much to pull this off so long as you live cheap those first years.

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Re:America’s banks are missing hundreds of billions of dollars by edmundsauto on Thursday March 23, 2023 @02:58PM (#35279639)

> nobody can beat the market over time, with maybe 1-2 exceptions.

Apologies for the poor wording. Agreed there do appear to be a few people who beat the market regularly. My perspective is those people are not using the same tools available to even elite traders - Buffett gets really good deals because of who he is. That kind of thing isn't available to anyone else and in the context of "could GP beat the market if they worked really hard and were really smart", it rounds to "nobody can beat it".

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