| Rath said: Warren Buffett, his dealing is either absurdly lucky or he is actually properly a financial genius. |
Go with the latter.
In Warren's case, he has replicated massive investment success after massive investment success to lead Berkshire Hathaway to being in the God-tier of stocks.
On one end, luck can indeed lead you to a hot stock pick. However, winning that 'lotto' based on happenstance is likely a 1:100 or 1:1000 thing. With Warren, he's replicating success at a far, FAR greater rate than 1:100 - more like 1:4 or 1:3. Because of that, he's removed a major portion of the 'luck' component by researching heavily into the companies he invests in. It'd be like someone going from a gambler to a professional Texas Hold'Em player. Yes, there is a luck element to some things, but with time and research you can remove a significant portion of the luck component and turn it into a skill. From there, its a matter of what value your skill has.
Back from the dead, I'm afraid.
