I don't really have an edge.
I'm not smart enough to have an edge over real deep value guys at a company level or the major traders at a macro level.
But if I take stock at what I am good at and what my natural instincts are then I think my edge is in distressed assets, ie. Argentinian land, coalminers, for-profit education. I haven't really played in that space for a while. Been a little gun-shy, but that is where the monster gains are had and that is where I have been most successful in the past. I think I have a broad enough perspective and sufficient wisdom to know when perfectly good assets have been thrown out with the bath water, and I have the natural contrarian instinct to step into a trade no one else wants.
Even though I am not smart enough, I can't help thinking that smarts does not always mean having an edge.
