3min chapter

The Joe Walker Podcast cover image

The World According To A Maverick, Beach-Biding Stock Picker - John Hempton

The Joe Walker Podcast

CHAPTER

The Importance of Luck in Life

First solar was a company that invented a new way of making solar cells. It was well-beating for a while, then the Chinese made something cheaper. And it was a good company and its massive success went away. Sometimes bad companies succeed, right? You know, an Indonesian tobacco company that cuts down rainforest to smoke, cure tobacco to addict to young children. But it is not capitalism, isn't it? Some people just born with skills that make more money. The world involves capricious luck and some capricious failures,. you're actually analyzing it wrong.

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