Stat Arb vs. 10-Baggers: The Power of Consistent Wins

Is there a market correction?

Does it matter?

Is it linked to your recurring revenue or, say, your operating income?

Is it dividends that sustain the drawdown, a management fee, or your newsletter?

So let me get this straight—despite all that accretion, one can derive income only indirectly, relying exclusively on ad hoc capital gains? And to generate incom…