Andy Kessler – Investor Profile

Andy Kessler

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2 Responses

  1. Avatar John Kingham says:

    Hi Mike, interesting story for that investor. I’m always going to be wary of people who made massive gains in five years and then got out! There is not enough evidence of any skill. Even Buffett gets accused of being a statistical anomaly even after 60 years (or whatever it is now).

    I bought a house in 1995 and sold it in 2005 and made a 5,900% return on my deposit (51% a year for 10 years!). Does that make me a genius, or just lucky? (Hint: I was just lucky).

    I’m not saying Kessler isn’t a super-genius, but that there’s no meaningful evidence. Taleb would probably call him a “lucky idiot” (Taleb’s words, not mine!)

    • Mike Rawson Mike Rawson says:

      Yes, I’m hoping not every guru has a 5-year glory period, though you could say he was smart to get out.

      That was certainly the easiest time to make money during my own investing career, and like Andy, I was lucky enough to stop trading internet stocks right at the top. A lot of my friends were less fortunate.

      I didn’t turn $80M into $1bn, unfortunately. I think things get harder when you’re managing significant sums.

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Andy Kessler – Investor Profile

by Mike Rawson time to read: 4 min