This is a great quote I read from Deliberate Capital's Blog:
"There are three major competitive advantages in investing: 1) informational (knowing a meaningful fact nobody else does); 2) analytical (cutting up the public information to arrive at a superior conclusion) and 3) psychological (that is to say, behavioral). Informational and analytical advantages are harder to come by, therefore long-term investors must assess if they have the behavioral aptitude to succeed as active investors."