Subject: Re: Portfolio123
I’ve been using P123 for years and believe it is the best site available for factor investing however only a small percentage of the investors there do as well as Yuval. But Yuval is obviously a very intelligent individual and has been doing this full time for several years. The more successful individuals tend to have either a strong background in statistics, finance or software.


This is a prime example of survivorship bias.

You never hear of the very intelligent individuals who used P123 and got only so-so returns.

Nobody brags "I dropped $2400 on P123 and managed to match the S&P 500."