[scotty79]

Skill and luck is a better distinction. Skill are all the things you have influence over and luck is all the things that you have no influence over. And for marvelous success you need both. And among people who achived such success most would have not achieved it if luck played no part in the process.

[simonh]

I suppose you can lump hard work, judgement and risk appetite under skill, but they really are very much different things. In particular I don't think risk appetite is something most people would consider part of skill. If anything I think most people would expect skilful people to take fewer risks and stick to things they know for sure.

[shubb]

I definitely recognise risk appetite as a skill because it's something I know I lack. On the other hand, taking big risks - and having the kind of personality that takes them - seems likely give rise to 10 badly spent lives for each good one. Can't farm black swans when your n is 1 or something.

[throwaway_poor]

Let's say maybe calibrated risk appetite. Too high of a risk appetite has its own problems especially long-term.