Inferring the Statistics of Buffett’s Alpha
July 02, 2018 at 11:12 AM EDT
By Corey Hoffstein, Newfound Research When an event with the smallest odds meets a long enough horizon, or large enough sample size, the occurrence becomes a near certainty. Flipping 50 heads in a row with a fair coin has the infinitesimally small probability of 8.9e-16 (smaller than a millionth of...