The concept is that in any area of performance in which skill is generally improving across the board running records being broken because of better training regiments, investing skill improving because of better access to information there will be a reversion to the mean.
Players in their 20s and 30s can compensate for lack of skill with pure athleticism, but the true marker of skill is performance into your 60s.
If consistent performance is a product of skill as Mauboussin contends, than index fund investing is certainly a skillful decision for an investor to make.
Whatever American residents may think about his politics, they are clearly captivated, if not also captured, not only by the epochal first-this-and-first-that of his candidacy and election but the timeless quality of brilliance in his open-pore skill at public performance.
Bolshoi dancers have been known to place crushed glass inside each other's ballet shoes, or set an alarm clock to go off during a tour de force (a feat of technical skill during a ballet performance).
His conclusion: in an industry full of smart people, brains and skill play little part in relative performance.
What all persistence studies show is that active manager performance is mainly due to luck, not investment skill.
To bring out their greatest performance they work with coaches who provide exercises for skill building and continuous support.
However, if the lack of performance is not due to lack of knowledge or skill, then training is definitely not the solution.
In the business world, where people and performance are top assets, having social and emotional skill in handling people might account for more than half of your success.
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The Green and Whites' points came courtesy of tries from Greig Tonks and Tim Streather but these scores came from glimpses of individual skill in what was collectively a disappointing performance.
When a leader develops the skill to convert negative conflict into creative tension, they have found the secret sauce for developing high performance teams.
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