Most of us would be better off indexing and doing something more productive with our time, and those of us who have been doing this for less than a couple decades, at least, and have outperformed still don’t really know if it was luck or skill. https://twitter.com/mykola/status/1198719315589160960

( ducks .....)

I’m not exempting myself at all. I’ve done better than the market over the past two decades, but not so much better that indexing and using my time for something else wouldn’t have been better financially. Luckily, I enjoy the game which itself has some value.

And in recent years, I’ve definitely not put all my time into stock picking - not even close.

Very, very few people are like Buffett and jump out of bed in the morning super excited to read 10-Ks all day. I am like that sometimes, but not all the time or most of the time.

I tried doing that for first couple years investing full-time - reading entire value line each week, a couple 10-Ks per day, etc, immersed in spreadsheets. I like that kind of work, but I don’t love it, not every day, not all the time. Buffett loves it. That’s why he’s Buffett.