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Luck Favors the Prepared and Persistent

James Altucher‘s latest blog post “The Ultimate Cheat Sheet for Mastery” is worth a read if you want to know what it takes to truly master something. An excerpt:

At some point you have to cook 10,000 meals. Or play a million hands of poker. Or 1000s of games of chess. Or start 20 businesses.

Very few are successful right away. That would require too much luck and luck favors the prepared and the persistent.

In those 1000s of whatever you will encounter much failure. We all know that the best baseball players in the world are enormous successes if they strike out “only” 70% of the time.

When my dad died I went to his house and logged onto this chess account. I saw that he played about 30,000 games. He never got any better.

A lot of people can play the 10,000 hands of poker and never get better. Or bake 1000 cakes and never get better.

You have to remember your experiences, study your failures, try to note what you did right and what you did wrong, and remember them for future experiences.

Will future experiences be exactly like the old experiences? Almost never.

But you have to have the ability to say “Hmm, this is like the time four years ago when X, Y, and Z happened.”

Read entire article here. Good job James.

Ep. 126: James Altucher Interview with Michael Covel on Trend Following Radio

James Altucher
James Altucher

Michael Covel talks with James Altucher in his second appearance on the podcast. Altucher’s new book, “Choose Yourself!” was released on June 3; he believes so much in the message that if you can prove that you bought and read “Choose Yourself!”, Altucher will pay you back for the cost of the book. Covel and Altucher discuss the new book and why all the rules we thought of as normal (“The banks will always finance my house”, “The stock market will always go up”, “The big corporations will always hire me”, “If I have a college degree, there will always be a job for me”) are imaginary. Covel and Altucher also discuss why a good trader trades their own self first, and the importance of choosing yourself and making a consistent inner life; the need to become an entrepreneur and artist in today’s climate, and why you might be looking down the barrel of a career in temp staffing if you don’t; the collapse of the middle class and 9-5 “jobs” as we know them; the importance of doing the un-obvious; why you’re only as valuable as your network; the need to exercise your idea muscle; sunk costs and opportunity costs; breaking the cycle of consumerism, buying memories and not buying objects; commitment bias; finding a career at 27, Stan Lee of Marvel Comics, endurance, and the importance of doing something for yourself today; David Gilmour of Fiji Water and the benefits of adventure; medication, lifestyle choices, and the necessity of good sleep hygiene; and the need to be an artist where your life is the canvas. Diversity!

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