Ever see an investment guru online flashing a rented Lamborghini and promising a “foolproof system” to beat the market? They sell a seductive story: with enough hustle, the right strategy, and perfect logic, success is guaranteed.
It’s a tempting idea that makes us feel in control. It’s also a dangerous lie.
The belief that hard work is the only thing that matters will leave you frustrated and broke. You can spend 10,000 hours analyzing a stock, but you can’t predict a global pandemic, a sudden war, or a disruptive new technology that wipes out an entire industry overnight.
Relying only on a perfect plan is like trying to sail across the ocean with a flawless map while completely ignoring the weather. Sooner or later, a storm of bad luck will sink you.
The “Warren Buffett” Lottery 🎟️
We love stories of triumph over adversity. But we often ignore the most powerful factor in success: the luck of the draw.
Think about the swimmer Michael Phelps. His incredible talent was partly due to his work ethic, but also his insane genetic advantages, huge feet that act like flippers and double-jointed ankles. He won a genetic lottery.
The same is true in investing.
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Were you lucky enough to be an early employee at Apple or Google?
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Did you happen to buy a house in a neighborhood right before it boomed?
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Did you invest in a company like Amazon in the 90s just because you liked the service?
That wasn’t just skill; it was being in the right place at the right time. When we ignore luck, we get arrogant. An investor who gets one big win and starts thinking they’re a genius is the one who goes all-in on the next risky bet and loses everything. History is filled with them, from the dot-com bubble to the 2008 crash.
How to Get Lucky (The Smart Way)
So, what’s the point? Just give up and hope for the best? Absolutely not.
Embracing luck isn’t about being passive. It’s about building a strategy that can capture good luck while protecting you from bad luck. This requires two simple, but powerful, traits:
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Humility 🙏: You must accept that you cannot predict the future. This is the entire reason we diversify. You don’t put all your money in one stock because you’re humble enough to admit your “sure thing” could go to zero.
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Openness 👀: You have to stay curious and expose yourself to new opportunities. The best investments often come from unexpected places. Instead of just following the herd, be open to stumbling upon a great idea in your daily life.
Your effort, research, and planning are what get you in the game. They are crucial. But they are never enough on their own.
Long-term wealth is built by combining hard work with the humility to accept that chance and randomness will always play a role. Prepare your portfolio for the worst, and stay open to the best.
What’s the luckiest break you’ve ever gotten in life or investing? Share it in the comments!
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