Showing posts with label Luck. Show all posts
Showing posts with label Luck. Show all posts
If you have had SUCCESS, you have also had LUCK
I am a Money Magnet! We are Money Magnets!
Michael Lewis' Princeton University Baccalaureate remarks:
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."
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