If you have had SUCCESS, you have also had LUCK

Labels: Bloomberg, Books, Investing, Luck, Michael Lewis, Movies, Speech, Videos on Thursday, June 21, 2012 at June 21, 2012

I am a Money Magnet! We are Money Magnets!

Michael Lewis' Princeton University Baccalaureate remarks:

"The "Moneyball" story has practical implications. If you use better data, you can find better values; there are always market inefficiencies to exploit, and so on. But it has a broader and less practical message: don't be deceived by life's outcomes. Life's outcomes,while not entirely random, have a huge amount of luck baked into them. Above all, recognize that if you have had success, you have also had luck - and with luck comes obligation. You owe a debt, and not just to your Gods. You owe a debt to the unlucky."

People don't always like to hear success explained as luck, especially successful people. But the truth is, people get credited for things totally beyond their control.

Recognize that you are lucky. And in time when you feel that you deserve all the success that you have, and you probably do, but you will be happier and you will be better off if you at least pretend you don't.

-0-

A lot of luck is involved in the world, even in gaining financial freedom and investing.

If you're unlucky, change your luck. It can be done.

-0-

Michael Lewis is a columnist at Bloomberg. He's the writer of best-sellers The Big Short: Inside the Doomsday Machine; The Blind Side: Evolution of a Game; Moneyball: The Art of Winning an Unfair Game; and Liar's Poker.

If you can remember the movie called The Blind Side which Sandra Bullock starred in and eventually won an Academy Award for, that movie was based on Michael Lewis' book.

-0-

Thank to the Faceless Trader for the link.

Get your free email updates. Subscribe here.