Fred Malek
Investor, adviser

Fred Malek

Founder and chairman of Thayer Capital Partners, and former adviser in various areas to four U.S. presidents -- Richard M. Nixon, Grald Ford, Ronald Reagan and George H.W. Bush.


Much more required

Q: How much does achieving success rely on luck vs. skill? This week a Western Maryland lumberjack named Darvin Moon won $5 million in the World Series of Poker. He insists he is no more skilled at cards than any recreational player. What do you think?

Luck certainly pays a role in achieving success. Maybe someone is lucky to be born with a high level of intelligence, born to nurturing parents who encourage and aid his or her development, or acquire an unusual mentor along the way.

However, success requires much more. How many smart people from wonderful families have failed to live up to potential?

The characteristics that separate and lead to real success remain qualities such as persistence, perseverance, courage to rebound and follow a plan, keeping one's word, and relating well to others.

Overall, I'd say 25 percent for luck, and 75 percent for all the rest.

By Fred Malek  |  November 12, 2009; 2:55 PM ET  | Category:  Skill versus Luck Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati  
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