RIght Place and Right Time

In retrospect, many of my successes have been the result of being in the right place at the right time for my particular set of strengths.   Recognizing this, it's important for me not to mistake this success due to chance with success due to superior skills.

The difference to me is the following.   Success by chance is not consistently reproducible.   Success by skill can be reproduced, even under different or challenging circumstances.

Recently, our investments in the stock market have been doing very well.  Several of our personal accounts have reached all time highs, despite the market indices not exceeding previous highs.   Our success has been due primarily to buying beaten down oil and material stocks over the past year.   Clearly a case of being in the right place at the right time.

In 2014, I picked in a stock that went up 10X in a little under two years.   It was a biotech stock and again it was right place at the right time.

If it were superior skill, I would be able to replicate these results.  However, historically, I haven't been able to do so.  So I don't make the mistake of take more risk because I erroneously believe that I have superior skill.

For more on  Reflections and Musings, check back every Saturday for a new segment.

This is not financial advice. Please consult a professional advisor.

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