Michael Lewis autor „The Big Short” – do absolwentów Princeton

By | Czerwiec 13, 2017

Całość do posłuchania i przeczytania pod linkiem:ritholtz.com

Poniżej tylko fragment tego jakże ciekawego i mądrego przemówienia, autora jednej z najlepszych książek inwestycyjnych ostatnich lat.

„One night I was invited to a dinner, where I sat next to the wife of a big shot at a giant Wall Street investment bank, called Salomon Brothers. She more or less forced her husband to give me a job. I knew next to nothing about Salomon Brothers. But Salomon Brothers happened to be where Wall Street was being reinvented—into the place we have all come to know and love. When I got there I was assigned, almost arbitrarily, to the very best job in which to observe the growing madness: they turned me into the house expert on derivatives. A year and a half later Salomon Brothers was handing me a check for hundreds of thousands of dollars to give advice about derivatives to professional investors.

My case illustrates how success is always rationalized. People really don’t like to hear success explained away as luck — especially successful people. As they age, and succeed, people feel their success was somehow inevitable. They don’t want to acknowledge the role played by accident in their lives. There is a reason for this: the world does not want to acknowledge it either.

…don’t be deceived by life’s outcomes. Life’s outcomes, while not entirely random, have a huge amount of luck baked into them. Above all, recognize that if you have had success, you have also had luck — and with luck comes obligation. You owe a debt, and not just to your Gods. You owe a debt to the unlucky.”

Już Napoleon Bonaparte to wiedział i mówił: „Od dwóch dobrych generałów wolę jednego, który ma szczęście.”

A w inwestycjach lepiej mieć szczęście niż rację!

Good luck!