Warren Buffet and Donald Trump - embodyments of pure luck?

in #politics7 years ago (edited)


The best-selling author R. Dobelli tells us why successful people reached their status - with ridiculous results.

Imagine 10'000 monkeys combined from all Zoos in the world are suspects to an experiment. They should predict the stock market. Eating a banana starting from the top indicates a rising market and from the bottom that it's going to fall. After one day, 5'000 monkeys were right in their prediction. In the subsequent one 2'500 of them were again right...after one year, one monkey remains. Each day, he was brilliantly right about the falling or rising of the market. What a special monkey he is, he must be a prodigy. Humans start to look for patters - what is the monkey doing differently? And they surely find something. They noticed that he always does a somersault before eating his banana, so it must be his secret??

The bottom line is, we are 8 billion humans on the planet, there are always some success-monkeys. Be aware of looking for patterns, much is just pure luck. Because there have to be successful people, resulting in some very questionable ones like Trump and Buffet. Once Buffet reached fame, wherever he invests in is publicly known, so people invest in this assets as well, giving it a rising price.

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interesting view! makes sense