WSJ: "Would a Time Machine Make You a Great Investor? According to some experiments, the answer is "no":
The latest is the “Crystal Ball Trading Game.” Players are given $1 million in play money and are shown 15 Journal front pages following big economic news randomly selected over the past 15 years. With up to 50 times leverage, multiplying that pot of money sounds like shooting fish in a barrel. Yet it wasn’t, and many players instead shot themselves in the foot. Through Thursday, more than 8,000 mostly financially savvy players had taken a crack at the game. Their median ending wealth after 15 rounds was just $687,986 according to data provided by Elm. Many lost everything.
Here is a non-paywall link.
