Disliked{quote} Luck plays a very large role with a single return stream and you can see this by applying a return stream from a system with no edge to a Monte Carlo test. Some return streams perform admirably for many months, whereas most fail (with the impact of frictional costs). So luck does play a very strong role in any single distribution of returns. This applies to any asset acquisition. Simply luck alone may be the only contributor to your success. If you want to deduce however whether or not your success in asset acquisition is attributed to luck...Ignored
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