Your Daily Bit of Wall Street Wit & Wisdom

“There’s a quick and easy way to test whether an activity involves skill: ask whether you can lose on purpose.  In games of skill, it is clear you can lose intentionally but when playing roulette or the lottery you can’t lose on purpose.”
— Michael Mauboussin

Working harder and smarter can improve your skill and likelihood of trading success.  But in the end, it’s still to a large degree up to luck.

Just don’t ever make the mistake of believing your good fortune means you “know” the market.

Wishing you the best of luck,


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