Can there be good investors in public equity markets today?

I’m curious about you guys’ thought on whether there can still be great investors in public equities (excluding micro cap) in today’s world. Excluding platforms like Birkshire, can they still exist in a normal fund with today’s market infrastructure? (I’m talking about human investors, not quant or quantimental strategies).

I ask because one argument I’ve heard in the past is that credit has better market structure for one to practice the actions that make a good investor. Especially the illiquid / distressed world.

*by good investor, I mean meaningful return with limited risk.

 

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