Back
Anurag Patel
Calm mind. Precise h... • 2m
Doing well with money has little to do with how smart you are and a lot to do with how you behave. And behavior is hard to teach • Financial outcomes are driven by luck, independent of intelligence and effort. • Financial success is not hard science. It’s a soft skill, where how you behave is more important than what you know. • To grasp why people bury themselves in debt you don’t need to study interest rates; you need to study the history of greed, insecurity, and optimism. To get why investors sell out at the bottom of a bear market you don’t need to study the math of expected future returns; you need to think about the agony of looking at your family and wondering if your investments are imperiling their future. Luck & Risk Nothing is as good or bad as it seems. Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort. They are so similar that you can’t believe in one without equally respecting the other.
Replies (1)
More like this
Recommendations from Medial
Anshu Katheria
Founder/CEO - Suprem... • 1m
Get Luck Out of the Equation. Imagine you're preparing for an exam with 5 questions. The syllabus has 10 chapters. If you study 5 chapters: Your probability of getting all 5 questions from those chapters is 0.40% If you study 6 chapters: The probab
See More
Gaurav Prajapati
Student, Startup ent... • 1y
"Is It Really Luck?" Ever looked at a successful startup and thought, "They got lucky" But here’s a question: Are you willing to put in the same grind, the same late nights, the same risk-taking with your ideas? What if "luck" is just the reward f
See More
Rahul Das
Product and analytic... • 1y
In 1968, Bill Gates attended one of the few high schools globally with a computer, a rare one-in-a-million chance. This access led to the founding of Microsoft, as Gates noted in a 2005 speech. His best friend, Kent Evans, equally talented, faced
See More
Download the medial app to read full posts, comements and news.