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Chris Cheatham wrote:
>
> > Am I particularly unlucky?
> there is no such thing as luck. You appear lucky when you align yourself
> with the laws that govern mkts, or life for that matter.
>
Interesting.
Actually I always believed that luck (chance) is probably THE most
determining factor in our life. Because we are primarily affected by
factors over which we have little or no control (boom/bust cycles,
peace/war, crazy governments etc).
On many things which affect us, we have as much influence as we have on
"commanding" the weather to be sunny or rainy. Thus, imo luck is imo #1
factor in trading/investing, in business, in health, in relations etc.
If there's no luck, then I guess I shouldn't consider the stock investor
whose investment horizon included the 1990s bullmarket "luckier" than
another whose investment horizon was the 1970s or 1930s. Or consider the
person who happened to be born in Sweden or USA "luckier" than someone
who happened to be born in Afganistan, Iraq, Africa or China
countryside.
I've met quite a few businessmen and realized that most of them
responded somewhat blindly to the incentives of their particular era,
and often grew either rich or poor depending largely on lucky or unlucky
timing.
Bottom-line, I'd always prefer being simply lucky rather than
smart/hard-working/whatever.
M
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