“ But what we can tell you is his portfolio is up nearly 20% since he started trading in June”
It’s a catchy headline but very misleading. Buffett has done a good job outperforming the market for the past like 50 years (idk the exact number but something like that. He reads through tons and tons of financial disclosures to understand how businesses operate and find businesses that are undervalued by the market, then snatches them up. It requires a lot of reading, learning and an incredible amount of patience and self control.
It’s a bit unfair to compare woth a hamster or monkeys and dart boards or anything like that. Yes the random picking of stocks or crypto’s or whatever can beat a lot of asset managers that don’t really know what they’re doing, but Buffett is different and has a track record to prove it
"What if we told you there was a hamster who has been trading cryptocurrencies since June — and recently was doing better than Warren Buffett and the S&P 500?"
Well that's nice. Now can I see the statistical analyses?
However, I'm twitchtwitch ... unsatisfied! "Then, deciding between two tunnels" - really?
I want to see a shootout between Mr Goxx, Buffett and a reasonably decent RNG. If Mr Goxx and a RNG outperform Buffett and DSnP (just made it up, D=500 in Latin, every byte counts) then there might be a fight or a lesson to learn. The lesson may be that Mr Goxx's choices are not random.
It looks like we might be looking at a lucky streak. If Mr Goxx had dumped his ante for no reward, would we be reading this story?
4 comments
[ 2.2 ms ] story [ 22.0 ms ] threadIt’s a catchy headline but very misleading. Buffett has done a good job outperforming the market for the past like 50 years (idk the exact number but something like that. He reads through tons and tons of financial disclosures to understand how businesses operate and find businesses that are undervalued by the market, then snatches them up. It requires a lot of reading, learning and an incredible amount of patience and self control.
It’s a bit unfair to compare woth a hamster or monkeys and dart boards or anything like that. Yes the random picking of stocks or crypto’s or whatever can beat a lot of asset managers that don’t really know what they’re doing, but Buffett is different and has a track record to prove it
Well that's nice. Now can I see the statistical analyses?
However, I'm twitch twitch ... unsatisfied! "Then, deciding between two tunnels" - really?
I want to see a shootout between Mr Goxx, Buffett and a reasonably decent RNG. If Mr Goxx and a RNG outperform Buffett and DSnP (just made it up, D=500 in Latin, every byte counts) then there might be a fight or a lesson to learn. The lesson may be that Mr Goxx's choices are not random.
It looks like we might be looking at a lucky streak. If Mr Goxx had dumped his ante for no reward, would we be reading this story?
(No)