Monday, December 13, 2021

Skill is just recognizing when you’ve gotten lucky

 --- investor Wilmot Kidd, in a profile by Jason Zweig, Meet the Kidd Who Goes Toe to Toe With Warren Buffett, WSJ, Dec 10, 2021.

Last two paragraphs of the story:

When I ask Mr. Kidd if he attributes his long success to luck or skill, he lets out a long, quiet, dry laugh before saying something I don’t think I will ever forget: “Skill is just recognizing when you’ve gotten lucky.”

He explains, “It’s when you’ve been fortunate enough to make an investment in a great company, and suddenly you realize just how very lucky you were, and you buy more. That’s skill, I suppose. That—and holding on to what you have and not chickening out.”