Because investors attribute the advertised high past returns to managerial skill rather than luck, they mistakenly believe that the returns are likely to continue.
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Some researchers suggest this is because men tend to be more overconfident than women and when they succeed at something, they attribute it to their superior skills (rather than luck).
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They certainly did not lack a fight and fervour to their play against United but it was a lack of composure in front of goal against the top-flight champions rather than luck which proved their downfall.
As he points out the real beneficial properties lie in the payoff rather than the luck part.
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How much of the credit belongs to Mr Clinton, rather than to luck and Alan Greenspan, is debatable.
There's another reason why it is so hard for top-performing advisers to beat the index over the long term, says Mr. Tint, even when their numbers were powered by genuine ability rather than sheer luck.
In their five pool matches, Malaysia scored only four goals, all from penalty corners - set pieces that require rather more luck than finesse.
The common perception might be that given the current economic uncertainty, employees would choose to play it safe rather than chance their luck in a volatile job market, but the study found that MBAs have been willing to risk career moves, with 20 percent of respondents changing jobs, 14 percent relocating and four percent starting their own business.
Yet, probably by luck rather than judgment, its sherifian solution proved remarkably durable.
In contrast, it is difficult to find potent substitutes for ordinary antibiotics, whose formulae are usually arrived at by luck rather than design.
Likewise, the bean that saves the day was foreshadowed and set up from the beginning, but ultimately still smacks of luck rather than wit or anything particular clever either on the part of Jack or the writers.
Mr Braine says that many of the French workers in Dublin who were laid off as a result of the Irish economic crisis are trying their luck in London rather than heading straight home.
You might have better luck if you walk up and try talking to (rather than at) the girls working at the North American International Auto Show in Detroit this week.
Its entryway is home to only four legal parking spots, though, so it takes some good luck and patience (or a willingness to bike or walk rather than drive) to get in.
Entrepreneurs are trustworthy because they accept a moral code of testability and falsifiability rather than one based on sentiment, sanctimony, good intentions, good press, good luck, good looks or guarantees.
One of Mr Obama's luckiest breaks in a luck-laden career came in 2003, when Mr Axelrod agreed to run his Senate campaign rather than that of another potential client, Blair Hull, a fabulously rich investor.
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