I find that the harder I work, the more luck I seem to have. - John Heywood.
On 14th July 2019 two events defied above proverb.
New Zealand lost the Cricket World Cup because of a rule which was as good as deciding the winner based on tossing of a coin. Please note England team also played excellent cricket.
Despite better in all parameters Roger Federer lost Wimbledon 2019 finals. Remember DJokovic played equally well and won a hard earned victory.
Now what luck is:
Buffet made a return of 8000% return on USD 25 million invested in See's Candies (1972).
First on the return:
“We put $25 million into it and it’s given us over $2 billion of pretax income, well over $2 billion, and we’ve used it to buy other businesses,” Buffett said.
Now on Luck:
And now it’s confession time. It should be noted that no consultant, board of directors or investment banker pushed me into the mistakes I will describe. In tennis parlance, they were all unforced errors.
To begin with, I almost blew the See’s purchase. The seller was asking $30 million, and I was adamant about not going above $25 million. Fortunately, he caved. Otherwise I would have balked, and that $1.35 billion would have gone to somebody else.
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