Is It Better to be Lucky or Smart?
Happy St. Patrick’s Day!
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We have a friend who buy and sells businesses. He’s been very successful over the last thirteen years. He started out by buying a bunch of businesses for a small amount of money. A few years later, he sold those businesses for a large amount of money.
Then he did it all over again. He’s timed his activities so he buys when the market is low, and sells when it’s high.
So is he lucky or smart?
He says, “It’s better to be lucky than smart.”