I have spent the past few days in Sweden, playing bridge in the Chairman’s Cup. On Saturday, 159 teams of four started playing 12 rounds of eight boards each. By Sunday lunchtime my team was sixth. I was thinking we were pretty hot bridge players. Three hours later we were 92nd and shell-shocked.
The experienced members of my team are used to the ups and downs of bridge. They knew to be wary of overconfidence stemming from our brief surge up the table — and not to be too shaken by sinking to 92nd. They didn’t read too much into the numbers.
Having spent more time managing equity funds, I note parallels.
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