Quote Critique

Good luck is what happens when preparation meets opportunity, bad luck is what happens when lack of preparation meets a challenge.

– Paul Krugman (Economist, NY Times 3/3/2006)

I’m no fan of Dr. Krugman, but his intelligence shines forth in this quote.  Luck favors the prepared.  Mentally anticipating change is adaptive, necessary for being a good trader, and useful for life in general.