That success can't be predicted with simple traits like IQ, hard work, and risk-taking is no surprise to me. Plenty of smart people are no good with money or business, just like many risk-takers can't tell the difference between a smart risk and a dumb risk (the vast gap between the two makes me wonder whether it's even wise to describe both kinds of risks with the same word).
But I think it's lazy to then give up and attribute it all to "luck".
It's rare to find a person who combines intelligence and risk-taking into a personality and mindset that thrives, financially, in our environment. But when it happens, I think those people's particular, qualitative traits contribute significantly to their success.
(I'm not saying that luck isn't also a significant factor. But it's overstated in that paragraph.)
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That success can't be predicted with simple traits like IQ, hard work, and risk-taking is no surprise to me. Plenty of smart people are no good with money or business, just like many risk-takers can't tell the difference between a smart risk and a dumb risk (the vast gap between the two makes me wonder whether it's even wise to describe both kinds of risks with the same word).
But I think it's lazy to then give up and attribute it all to "luck".
It's rare to find a person who combines intelligence and risk-taking into a personality and mindset that thrives, financially, in our environment. But when it happens, I think those people's particular, qualitative traits contribute significantly to their success.
(I'm not saying that luck isn't also a significant factor. But it's overstated in that paragraph.)