Buffet doesn't claim it's impossible to beat the market. He only says that the vast majority of investors cannot pick individual investments accurately enough to beat a diversified, low-cost index fund in the long term. There are a bunch of caveats in here, namely LONG TERM – you might get lucky and strike it rich once or twice, but you are very unlikely to have those lucky investments pan out over decades.
Yes, Buffet is incredibly skilled. Buffet actually claimed once that he was born with a preternatural ability to invest in companies. The whole "you can't beat the market" quote is meant more to say that we mere mortals are to Warren Buffet what normal people playing pickup basketball are to Michael Jordan.
Yes, Buffet is incredibly skilled. Buffet actually claimed once that he was born with a preternatural ability to invest in companies. The whole "you can't beat the market" quote is meant more to say that we mere mortals are to Warren Buffet what normal people playing pickup basketball are to Michael Jordan.