[chrinc9203]

> Of course there are, but for how long? Long enough to rule out chance?

Over 20-30 years.

Private equity in the US averages 15% annual return, including funds that close/died with a total loss of capital.

Citadel hedge fund was 20% annual return to the investor after fees (individual years range from -10% to 50%). Before fees (that is; their stock picking ability) returns about 40-50%.

Not to mention quant/HFT firms that consistently do 40-80% annual returns over 15-20 years. No wonder quant TC is 2-5x the TC of FAANG AI SWEs.

All the above is closed to “retail” investors, though. It’s not fair, but that’s life.

For most people (less than $10M net worth), VTI/VTSAX/VOO is the best you can do.

[tdullien]

The outsize quant returns are to be viewed with a grain of salt:

The strategies that quant funds run are often capacity-constrained, so if they do 20-40% a year, it is non-compounding. That matters.