He substantiates that claim by saying that probabilistically someone has to come out on top. The truth, however, is that they’re most likely fooled by randomness, or “lucky fools” to quote Nassim.
portfolio managers, will go to great lengths to outline their unique secrets that paved their way to financial riches. In the eyes of these high net worth individuals who have succeeded, the answer is clear: yes. People who have been successful in their fields, i.e.
“Can we judge the success of people by their raw performance and their personal wealth?”, Nassim asks. Let’s explore!Īre you a skillful investor, or a lucky fool? This theme is explored via theories, calculations, narratives and common sense. Namely, how we mistake skill from luck in matters of success and failures. The author of The Black Swan , Nassim Taleb, has written a book on randomness, chance, and luck.
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