John Husselbee: Differentiating between luck and skill

'Some people build walls'

clock • 4 min read

When the winds of change blow, some people build windmills and some build walls, writes John Husselbee, as he discusses the difference between luck and skill in fund management

To channel Dirty Harry, how many of us consider ourselves lucky? For something that, by definition, has no basis in fact, luck plays a huge role in many cultures around the world. In China, for example, people believe certain numbers, colours, animals, days, and actions are more favourable than others. Red is the national colour, representing happiness, wealth, prosperity, and good luck, while dragons and tortoises are considered auspicious beasts. Like so many things, the concept of luck gets trickier where money is involved and this is certainly the case when it comes to the debate ...

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