If you give luck and risk proper respect , you realize that when judging people's finance success - both your own and others - Its never as good or as bad as it seems!
Morgan Housel - Psychology of Money
When you talk "odds" in Life , you see the role of - Long-tail - in successful people and outcomes ,
What is long-tail? -a miniscule few that are Rich, successful and famous and all.
Rajnikanth, Jeff Bezos and Warren Buffet are all in long-tail!
one in a billion probability!
you really cannot mimic them and replicate their success - because its not method alone but also madness that comes into picture in form of luck and environment!
No doubt about the effort they put in - Due respect - but they also have been aided with the role of luck
For every successful person, there are thousand others who had put in equal effort
but did not have the role of luck - they faced failure- despite sheer hard-work
so the point is that -
dont get carried away by your own success or others
Dont let it go into your head!
Give luck the respect that it deserves in making you successful!
when you do that you becomes humble-
remember the passage on ego -
Savings = Income - Ego;
Similarly you can write an equation of life :
Success = Effort + Luck!
Failure = Effort - Luck
you got to meet luck half-the-way!
So both success and failure seem to be merely random events in Life!
Say you fail in an endeavor - we quickly blame the role of luck
On other hand, we succeed - we quickly claim role of skills, talent and effort!
No talk of luck whatsoever! we even take offense - at being called lucky!
How about that!
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