I never cease to be amazed at people who tend to think that they’re repeatedly unlucky. It’s possible, but not likely.
We see this a lot from bureaucrats: repeated claims that their program didn’t work because of unlucky circumstances. When children make that excuse, we know better than to believe them.
But, in the private sector, we get the opposite problem. Since free exit is possible in many lines of business, it’s distinctly possible that those that are still in business were the luckier ones. Read between the lines and don’t believe all those claims of great decision-making when making your investments.
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