And yet the ROIC dogma is clear: financial activities have a zero NPV.pic.twitter.com/oo7qPEOG43
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G&D: What do you think has made you a successful investor? MW: I can spell that out. L…U…C…K. It‘s been more business skill than investment skill that has helped me throughout my career.
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Luck, a necessary but not sufficient ingredient in every success. But what the virtue-signallers won't tell you is that almost everyone gets lucky. The successful act and then execute with competence.
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Aren't the virtue signallers those that don't take luck into account when judging their success?
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No, they think they're signalling competence, but they're actually signalling stupidity. When Bill Gates, by all accounts, one of the smartest most competent and fiercest business competitors ever says "luck" he's signalling virtue.
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