Luck and risk are often discounted in measuring success because they are hard to measure. They are unpredictable and uncontrollable factors that can significantly influence outcomes, but their impact is difficult to quantify. Therefore, people tend to focus on factors that they can control, such as hard work and decision-making skills, when measuring success. However, it's important to acknowledge the role of luck and risk, as they can sometimes make the difference between success and failure.
How should investors manage the inevitabilities of risk? What are the most powerful wealth-building...
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