Even famous successful investors like Peter Lynch, Warren Buffett, Bill Dermot, and Howard Marks had tiny asset bases when they were starting out, and we only know them today as successful because we see the winners; we never hear of the 10,000 portfolio managers who were flushed out and failed—a case of survivorship bias.

factualpending

Speaker

Barry Rolfs

Evidence Quote

the 10,000 portfolio managers who got flushed that we have never heard of right... survivorship bias

Source

Why Money Isn't What You Think: Barry Ritholtz on the Meaning of Money and How NOT to Invest ItExcess Returns
Created: 8/11/2026, 5:35:27 AM

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