How to Tell Skill from Luck

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Can you lose on purpose? if you can, the competition involves some skill. If you can’t, then it’s luck.

This point is in a much longer paper – by Mark Mauboussin of Legg Mason – about investment strategies, and how to figure out where your success is coming from.

Via Paul Kedrosky's Infectious Greed.

Technorati Tags: skill,luck

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