Subject: Re: Just to be provocative
To within rounding error, the rules of investing large portfolios is: if your name is Warren Buffett you can beat the market materially over time, and if it isn't you can't. He will be leaving the office for the last time in the not distant future, so that era is essentially over. The portfolio will be market tracking in future.

I think there were 4 or 5 people (Buffett, Miller, Simons, etc) who were able to beat the market materially over the long-term. It is quite possible that someday there will be a fifth such person.