William Bernstein Figures That Competent Investors are Rare
William Bernstein, who maintains the website Efficient Frontier, has written many interesting articles over the years and has a new book coming out soon, The Investor’s Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
Bernstein calculates that as few as one person in ten thousand has the full skill set to manage money tolerably well. Steve Hsu at the Information Processing website (source below) has listed the four requisite skills Bernstein mentions.
Source:
http://infoproc.blogspot.com/2009/10/efficient-frontier-and-william.html
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