Luck and Risk

Housel explores the intertwined nature of luck and risk, illustrating how they significantly influence outcomes beyond individual control. He uses the story of Bill Gates, who had the rare opportunity to attend a high school with a computer, and his friend Kent Evans, who faced a tragic end. 'Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort,' Housel writes, urging readers to respect both luck and risk equally.