A Nice Illusion of Skill

Professor Kahnemann writes an interesting article in the NYT about the zero correlation between a professional money manager's stock choosing skill and alpha, the difference between his results and that of random choosing. Yet in the last days I bought Internet Zahav (because it was rising) that lifted 13% yesterday on the NASDAQ, and PLX - the carrot media biomed - that did 9%.

It is pure luck, I know.

Yet I feel better with myself.