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Valedictorians: Past Behavior is not Predictive of Future Success

In the investing/finance world, there is the standard disclaimer “Past performance may not be indicative of future results.” Meaning, a mutual fund that yielded 10x the competition last year, may not happen again this year. This disclaimer, while weasel-ish (but legally approved!), applies in real life too as the title of this post suggests. Namely, …

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