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Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More
Acquired
I've Made It Chapter Two, Right?
i'm a big, huge sports fan d i played lecross in college, but i was kind anti baseball guy. But then i read money ball, and i was like, this is awesome. I think i was the first person on wall street to write about money balls. And so these are things that are skill contribution. Luck is much more difficult to define. It has three key attributes: One, as it happens to an individual organization, so it happens to you, or your company, or your favorite sports team, or whatever. Second is, it can be good or bad; there's a positive side for both of them. There's no such thing as 'luck luck'
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