Here's why Warren Buffett says that he and Charlie Munger are successful. via CNBCMakeIt
. Buffett and Munger got to where they are today in part thanks to hard work and dedication to their craft. But Buffett also acknowledges that they also got a major head start because they, as he puts it, won the "ovarian lottery.", Buffett explained the concept of the "ovarian lottery" at Berkshire Hathaway's Annual Shareholders Meeting in 1997 to mean that many of the advantages you get in life, such as your nationality or your health, are determined by chance.
"You're going to get one ball drawn out of a barrel that probably contains 5.7 billion balls now, and that's you," Buffett says. In many way, Buffett says, he and Munger won the real-life version of the ovarian lottery and that helped launch them into their immense success. "I mean, Charlie — when we were born the odds were over 30-to-1 against being born in the United States, you know? Just winning that portion of the lottery, enormous plus," he says.
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