There’s been a lot of chatter around Wynn lately most of it circling the idea that a “trencher” can’t win on perps.

I get the argument, but I think it misses the real point.

Let’s bring it back to one of my favorite Howard Marks ideas: to make money, you need aggressiveness, timing, or skill - ideally, two out of three. If you get the timing right and you go in hard, you don’t need much skill.

That’s exactly what Wynn self admittedly did - he slammed the bottom with size. Aggressive. Timed right. That’s all it took to dominate in the early innings.

But now, the game’s shifted. The moves are choppier, the plays less obvious. We’re in the middle-to-late innings. That’s when skill starts mattering a lot more.

And if you’re still pushing the same buttons as before, but the environment’s changed?

That’s where tilt creeps in, and be admitted this himself.