Warren Buffet attributes good portion of his success to what he calls "Ovarian Lottery"
" just before you emerge you have to go through a huge bucket with 7
billion slips , one for each human. Dip your hand in and that is what
you get - you could be born intelligent or not intelligent, born healthy
or disabled, born black or white, born in the US or in Bangladesh, etc.
You have no idea which slip you will get"
" Born in USA as a white man right at the time when greatest bull market was to begin was too good an opportunity "
But then lot of people had this opportunity so why warren buffet succeeded ??
That is where definition of luck play the role :
Luck is when preparation meets opportunity .
Degree of Luck then is determined by ...
How does one prepare for opportunity ??
How does one know it is a opportunity ??
How does one know which opportunity is right for him ??
How does he compete with others for that opportunity ??
In series 2 we will see how does one do it ..
Successful investing is all about being crazy , different and less wrong than others . The ideas and process written here may not suit all risk profiles so please check with your financial "doctor" before adopting .
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