What’s special about Buffett (and what isn’t) – part 2

John Addis explains why you really can invest like Warren Buffett but can’t expect the same returns, and the one thing that makes him truly different.

Last week we looked at how Warren Buffett’s success, along with those of his cohort of superinvestors, was often explained away. The efficient market hypothesis held sway, implicating Buffett as the recipient of a long and luxurious visit from Lady Luck. Buffett’s track record was an outlier, a statistical quirk, a freak.

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