mother always said “you’re better off lucky than smart”…I think
there’s a lotta truth to that. I have known some pretty smart people who
have the worse luck.
However, one of the best little books I
ever read was about how to create good luck….don’t recall the author
as it was so long ago, but the point of the book was that what appears
to be luck to many outsiders is actually the result of very disciplined
planning to create opportunity or find opportunities…and also, risk
management. How we manage our risks when we have bad luck minimizes
the damage and prepares us for those days when our luck is good.
When it comes to stock trading, what might seem like luck is often the result of many year’s of observations and hard work!