“The human mind also revolts against the idea that chance and luck play a huge part in how the world works. Take Warren Buffett for example. He is widely viewed as one of the most successful investors of the modern era. Many very intelligent people can make extremely persuasive arguments about why this is the case — how his brilliant investment process explains his ultimate success.

However, a sober assessment of Buffett’s career would reveal that his approach was not particularly remarkable. It certainly wasn’t revolutionary. Buffett himself has said that you don’t have to be a genius to be a good investor. Mostly he relied on the ideas of others that came before him.”

Read the full post on: The Evidence-Based Investor