I think it's pretty interesting that the first three kinds of luck that you described,

there are very common cliches for them that everybody knows.

And then for that last kind of luck that comes to you out of the unique way that you act,

there's no real cliché for it.

So for the first three kinds, there's dumb luck or blind luck, that's the first kind of luck.

The second kind of luck, there's the cliché that Fortune favors the bold.

That's a person who gets lucky just by stirring the pot and acting.

The third kind of luck, people say that chance favors the prepared mind.

But for the fourth kind of luck, there is not really a common cliché out there that matches the unique character of your action,

which I think is interesting and perhaps an opportunity.

And it also just shows that people aren't necessarily taking advantage of that kind of luck the way they should be.

I think also at that point, it starts becoming so deterministic that it stops being luck.

So the definition starts fading from luck to more destiny.

So I would characterize that fourth one is you build your character in a certain way and then your character becomes your destiny.

One of the things I think that is important to making money,

when you want the kind of reputation that makes people do deals through you.

I use the example of like if you're a great diver, then treasure hunters will come and give you a piece of treasure for your diving skills.

If you're a trusted, reliable, high integrity, long-term thinking deal maker,

then when other people want to do deals, but they don't know how to do them in a trustworthy manner with strangers,

they will literally approach you and give you a cut of the deal or offer you a unique deal just because of the integrity and reputation that you built up.

Warren Buffett, he gets offered deals and he gets to buy companies and he gets to buy warrants and bail out banks and do things that other people can't do because of his reputation.

But of course that's fragile. It has accountability on the line. It has a strong brand on the line.

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