"Its long/short equity fund gained an astounding 274 percent, thanks in large part to a 700 percent surge in the price of Tesla’s stock, which accounted for 37 percent of Worm’s publicly traded equities portfolio at the end of the third quarter."
This means that, outside of his TSLA position, the rest of his portfolio made about 25%. In a normal year that'd be impressive, but 2020 was a year where SPY was up 15% and there was insane volatility.
So basically this guy gets decent-to-good performance on 3/5 of his portfolio and put the other 2/5 into a blind gamble which turned out to pay off. The chances of that happening by luck aren't "4.82e-18."
"Its long/short equity fund gained an astounding 274 percent, thanks in large part to a 700 percent surge in the price of Tesla’s stock, which accounted for 37 percent of Worm’s publicly traded equities portfolio at the end of the third quarter."
This means that, outside of his TSLA position, the rest of his portfolio made about 25%. In a normal year that'd be impressive, but 2020 was a year where SPY was up 15% and there was insane volatility.
So basically this guy gets decent-to-good performance on 3/5 of his portfolio and put the other 2/5 into a blind gamble which turned out to pay off. The chances of that happening by luck aren't "4.82e-18."