Luck & Skill
Outcomes are often a mix of luck and skill, but the impact of each varies. Recognize when luck plays a role.
“Separating what’s within your control from what isn’t is an underrated life skill.”
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Morgan Housel’s Same as Ever explores timeless truths about human behavior, helping us make better decisions in an ever-changing world.
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Similar ideas to Luck & Skill
There are 4 kinds of luck
- Blind Luck: It's where you just got lucky because something completely out of my control happened. That’s fortune, that’s fate.
- Luck from Hustling: When you’re running around creating lots of opportunities, you’re generating a lot of energy, enough energy that luck will find you.
The Most Important Thing Is . . . Appreciating the Role of Luck
Every once in a while, someone makes a risky bet on an improbable or uncertain outcome and ends up looking like a genius. But we should recognize that it happened because of luck and boldness, not skill.
Key Takeaways
- Money is not just a tool for buying things, it also shapes our emotions & attitudes in ways that can be both positive and negative.
- The way we think about money is often irrational & influenced by emotions, which can lead to poor financial decisions.
- The role of luck in finan...
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