Marks quotes Swensen saying successful investing requires uncomfortably idiosyncratic positions against the crowd.
“successful investing requires the adoption of uncomfortably idiosyncratic positions. Everybody has the same influences, everybody thinks pretty much the same,”
Marks says readily available quantitative data cannot make you superior because everyone has the same information.
“readily available quantitative information about the present can't help you be superior as an investor, or it's not sufficient to be superior.”