The Captain's Philosophy on Live and Investing.
Life is full of risks, which come in two flavors, manageable (low) and unmanageable (high).
A smart person knows the difference, a dumb one does not.
Let's say there are two routes to a destination a short one through rough sea, and a longer one through calmer waters. Which to take? The logical questions to ask before selecting the route are: how rough, and how much longer. The intelligent person weighs the risks, the dumb one doesn't effectively flipping a coin.
If you flip a coin on life's risks that automatically makes you F**k or F. Now there are two equally likely outcomes one good and one bad. If the outcome is good that makes you a Lucky F (LF), if the outcome is bad a Dumb F (DF).
If you correctly weigh the risks and act, that makes you Smart (S). Of course being smart doesn't mean things can't go bad quickly, turning you into an Unlucky F (UF)... but that doesn't change the fact you were was S in making the decision.
So which would you rather be a DF and have things go well, or S and have things go bad?
It's often said: "It's better to be lucky than good." But is it? No.
Luck is fickle and if you luck out being a DF one day it will encourage you to try your luck the next.
Eventually the laws of chance catch up with the DF ending in disaster.
So in making ANY decision in life there are four possible outcomes being either: S, or UF, or LF or DF.
I'm always trying to make my decisions result in either a S or UF outcome.
