We study extreme billionaires or extreme failures in the news to know what investment decision to make and which to avoid. Given how unpredictable life is and the complexity of factors affecting success, these are not the measurements of future investments and success. Risk, luck and failure are always interplayed because they are next door neighbors. Don't invest because someone did, invest because you can do the hard work required and it's what you love. You must love the process not the results alone.
The more extreme the outcome, the less likely you should apply it to your life. Many investment has made more people poorer than those who made fortunes from it. And people who are lucky still hit fortunes but what about those who fell at the other side of luck. We blame them for poor investment decision while we praise those who succeed for nice decision. A good investment that turned bad fell on the other side of risk, not the investor.
Success is a lousy teacher, it seduces smart people into thinking they can't lose. Failure is a lousy teacher too, it seduces smart people into thinking their decisions were bad and horrible. We are fooled by randomness. Extreme billionaires weren't sure which investment but they just had something within their heart, within their passion they can deliver to make a difference. Then the results blow their minds. They never expected to that extent.
If your decision fetch the luck, celebrate, don't be humbled by the opposite of luck, pick up the task like your life depends on it. Because it's does depends on it. The relentless and study will finally fetch unexpected luck.
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