Experience can help in certain areas but it’s often overrated in terms of separating the winners from the losers.
Experience is not the same thing as expertise.
Experience in the markets is often overrated. Talent and intelligence are also overrated. Temperament, patience, self-awareness, humility, discipline and process are all extremely underrated. Experience can help with these things but it’s not a prerequisite.
No two market environments are ever the same. The only constants are risk and human nature. Everything else about the future is always uncertain.