In investing it’s really important to separate out luck vs skill. Luck is fleeting, but skill is where investors can get better investment performance over time. Michael Mauboussin wrote a great book on the topic called “The Success Equation”.
In this week’s episode we cover a few takeaways from the book and we discuss how investors can shift from relying on luck to using skill. We also discuss the importance of having good decision-making, and that bad results don’t always mean a flawed decision-making process.
Sources:
https://www.amazon.com/Success-Equation-Untangling-Business-Investing/dp/1470346729
https://www.youtube.com/watch?v=TLQ6o_Jx0Rs&ab_channel=CreditSuisse
https://www.youtube.com/watch?v=wVUn62rHMz8&ab_channel=WealthTrack
Disclaimer
This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.