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s/b Salomon Brothers

You may now resume proving Lewis's point, that "People really don’t like to hear success explained away as luck."



So just how much more "lucky" is Warren Buffet than a thousand other capitalists? If you took away every penny he owns and made him 25 again, do you really doubt he would be able to earn it all back?


Warren Buffet is a known anomaly.

His value investing and stock picking ability is pretty much unparalleled.

At the same time, he IS lucky to have done what he did, at the time he did.

Even if one single person like him existed before or at the same time as him, he would have had trouble finding deals to invest in.

EDIT: not to mention the things he did wouldn't have been possible at many other junctions in time. His skill set - value investing, would have been impossible if he wasn't born in the era he was.


Warren Buffett admits he was lucky. I don't doubt he would do very well. I have doubt he would do as well, his performance would revert closer to the mean.




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