Why luck is more important to long term stock holders?

Luck is something out of YOUR control. When everything else SEEMS to be the same but the results are not always the same, we say the cause of the different outcome is luck. Pay attention to the capital words. YOU are the one to decide whether it’s luck. Luck is a neutral word. Good luck is good; bad luck is not.

Now, why luck is more important to long term stock holders?

If you were to have a free throw competition against Michael Jordan, what would be the better game format? Shoot 100 times or just once? Assume YOU THINK your shooting percentage is 50% and YOU THINK Jordan’s is 80%.

See any similarities between holding a stock (or even a mutual fund) for a long time and taking only one shot?

By the way, when I asked what would be the better game format, what I really meant was what would be the better game format for YOU, i.e., not for Jordan.

P.S. What’s your preference if your shooting percentage is 90%?