DislikedPeople always say that only 5% of traders are profitable. If that is true then The Random Walk Theory and the Efficient Market Theory are both false. If they were true, there would be far fewer than 5% of traders who are consistently profitable.
Furthurmore, if the Random Walk Theory were true, calling someone like Warren Buffet an "outlier" would be a drastic understatement. The probability that someone would be able to consistently be profitable for over 50 years is incredibly low. The probability that there are multiple people who have been...Ignored
There are others but most of them have faded away I read Richard Dennis had huge losses in 1987 and never really recovered from that phase, Peter Lynch retired when the going was good so we'll never know (quit when your ahead, clever thing to do). I saw a video of one of the turtles on youtube where he said he lost everything he made later on.
Well personally I don't know whether its luck or not