Luck & all the money in the world

...continuted from yesterday...

Self-made billionaires in The Forbes 400 readily attribute their success to luck, according to chapter 3 of All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes…

That book refers to studies by academics which confirm the role of luck in success. For example, sociologist Christopher Jencks reported observing that luck mattered as much as ability and experience in defining a person’s income. Jencks concluded that that neither family background, cognitive skill, educational attainment, nor occupational status explains much of the variance in men’s incomes. Instead, he noted that luck has at least as much effect as competence on income. The luck he referred to ranged from friends and acquaintances helping someone to find work, to being in the right job market at the right time.

Another academic, psychologist Richard Wiseman, reported in a study about luck that people’s thoughts and behavior are often responsible for their good luck and fortune. He reported observing that lucky people are skilled at creating and noticing chance opportunities, making lucky decisions by listening to their intuition, creating self-fulfilling prophesies via positive expectations, and adopting a resilient attitude that transforms bad luck into good. According to Wiseman, unlucky people are tense and anxious and thereby miss chance opportunities. In contrast, lucky people are relaxed and open, and therefore see what is in front of them rather than just what they are looking for.

The leading piece of literature in the trading industry on luck is Nassim Nicholas Taleb’s Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

So how do you improve your luck? Deepak Chopra suggests Hindu incantations and provides a bookful for attracting synchronistic events in The Spontaneous Fulfillment of Desire: Harnessing the Infinite Power of Coincidence (Chopra, Deepak)

Or if you prefer to work just in English, there are 22 recipes (they call them “Processes”) provided by Esther Hicks and Jerry Hicks for the purpose of increasing synchronicity in Ask and It Is Given: Learning to Manifest Your Desires

...continued tomorrow...

Copyright 2008 Raymond T. Lee. All rights reserved.
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