Lucky in Life

Lucky in Life

Click the link above to read the full article.

The article was published on April 14, 2023 and written by arguably our favourite follow Michael Batnick and certainly our favourite "Irrelevant Investor". Michael is a CFA charterholder and Director of Research at Ritholtz Wealth Management. Check out his blog here.

This article is really a can't miss read for everyone. It is a lifestyle article that discusses the major role that luck plays in all of our lives and a few examples of how you can get more of it on your side. He also touches on how luck can play a negative role in our lives, if you believe your luck is bad. We love the image from the article too (see below).

This image is great because it shows the future has infinite different paths that you can take. Sometimes the path will take you down and sometimes the path takes you up. Those are the ups and downs of life. They are so important to remember. I also saw this image recently, showing that overall happiness tends to move in a smile, U shape. When you are young you are overall happy, as you get older and responsibilities increase happiness decreases, until you get into your late 50's and happiness starts to increase again as most tend to realize the finite aspect of our lives.

Back to Michael's great article, a few highlights: 

One of the funny things about life is you never know which moment in time will shape the rest of your journey. A chance meeting here or a missed train there can change everything forever.

When we complain about bad luck, it's usually about overall meaningless events,

People love to talk about their bad luck. “Watch. As soon as I buy this stock, it will go down.” Or, “Just my luck. I bet on the Bulls to win by five and they won by four.” Things like this might fun to talk about, or I guess complain about, but they’re trivial. They don’t move your needle of life.

Your life is the roll of a hundred dice each with a dozen numbers. Some people catch a few lucky breaks, as I did, and others crap out. It’s uncomfortable to think about how random your circumstances can be, but if you have a positive attitude and you work hard, you give yourself a better chance at getting lucky in life.

I (CJ) really resonate with this article and Michael's experience as mine was similar. I was kicked out of University for a year and had to work my way back in before graduating a year and a half late. I feel extremely lucky to have met Jerry. Most of our clients know that story so I won't go into detail - maybe at a later date. I convinced Jerry I was worth taking a chance on, he did, and as they say the rest is history (with a few more chapters still to be written). Similar to Michael's story, when I met Jerry I had put in the work and was ready. This is my takeaway when it comes to getting luck on your side. Being prepared is key and as Jerry has taught me "always doing the right thing". You never know what opportunity will arise.

The article was published on April 14, 2023 and written by arguably our favourite follow Michael Batnick and certainly our favourite "Irrelevant Investor". Michael is a CFA charterholder and Director of Research at Ritholtz Wealth Management. Check out his blog here.

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