Reminded of the discussion of survivorship bias in "Fooled By Randomness" (Taleb).
Something like a pool of 5000 investment managers each less likely to make a good decision than would a coin toss, would still produce a small population of "masters of the universe" after 5 years.
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[ 4.8 ms ] story [ 19.3 ms ] threadSomething like a pool of 5000 investment managers each less likely to make a good decision than would a coin toss, would still produce a small population of "masters of the universe" after 5 years.
[1] - https://www.youtube.com/watch?v=USKD3vPD6ZA [video] [warning:language]