My Best Pick 2013

Fairy dust

Lady Luck may be fickle but let us wish that she smiles benevolently on all of us

Michael Mauboussin, chief investment strategist at Legg Mason Capital Management and adjunct professor of finance at Columbia Business School, talks about the role of skill and luck in The Success Equation. He says that when the overall skill level goes up, luck starts playing a more important role in determining success. That is eerily true for the stock market today.

There was a time when the local stock market was the domain of only a handful of broker-investors who made handsome ret

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