10 fascinating traits of highly-successful people:

1) Enjoy Being Wrong: The most successful people legitimately enjoy being wrong. They’ve learned to embrace new information that forces you to change your viewpoint—these "software updates" improve upon the old.

(read on)

2) Work in Sprints: Parkinson's Law says that work expands to fill the time available for its completion. Winners typically work like lions instead—sprint, rest, repeat.

3) Antifragile: Life is chaotic. The best aren't broken by the chaos—they build structure to benefit from it.
4) Paranoia: Highly-successful people share a surprising fear that all of the success is suddenly going to disappear. It creates a drive for continued growth.

5) Self-Awareness: The most successful people are hyper self-aware. They know their unique edge (and their weaknesses).
6) Compartmentalization: An uncanny ability to compartmentalize. They turn off outside stressors and focus exclusively on the task at hand.

7) Focus on Questions, Not Answers: They ask great questions. It allows them to aggregate insights more effectively.
8) Expert Advice Filters: Winners have learned how to filter and selectively implement advice—take the signal, skip the noise.

9) Impatient Long-Term Thinkers: Long-term thinking plus short-term impatience for action is the recipe for success.
10) Smile Through Chaos: I had a teammate who would grin wildly when we were in the depths of a painful workout. It was simultaneously inspiring and terrifying. If you can do this, it means everyone wants to stand with you, and no one wants to stand against you.
Those are 10 interesting traits I’ve observed in highly-successful people.

What others would you add to the list?

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I’m torn on how to approach the idea of luck. I’m the first to admit that I am one of the luckiest people on the planet. To be born into a prosperous American family in 1960 with smart parents is to start life on third base. The odds against my very existence are astronomical.


I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.

In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.

So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.

Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.