Luck and Risk
Luck and risk are intertwined forces that significantly influence our outcomes, often beyond our control. While success is frequently attributed to hard work, it's essential to recognize the role of luck in shaping achievements. Similarly, failure is often oversimplified as a result of poor decisions, neglecting the probabilistic nature of choices we make in life and investing. Understanding these concepts can reshape how we view role models and the paths they take.In this clip
From this podcast

Capital Allocators – Inside the Institutional Investment Industry
[REPLAY] Morgan Housel – The Psychology of Money (Capital Allocators, EP.155)
Related Questions
How important is luck in success as discussed in the episode The Psychology of Money with Morgan Housel #265 and the clip Luck and Risk?
How important is luck in success as discussed in the episode The Psychology of Money with Morgan Housel #265 and the clip Luck and Risk?
How important is luck in success?