Roulette to Riches

Writing at Taki’s Magazine, Dalrymple explains why his patented skepticism extends to investment management:

I have yet to be convinced that anyone has more penetrating foreknowledge of the markets than could be expected by chance. After all, if a million people speculate, some must make a fortune, just as there will always be players of roulette (if there are enough of them) who win even in the long term.

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