So there's a huge difference between that and investing your time and skill in something based on making educated guesses. Which is why I wouldn't call it luck.

So there's a huge difference between that and investing your time and skill in something based on making educated guesses. Which is why I wouldn't call it luck. That's an absurd definition of luck. What you have to do is look at the distribution of outcomes in the population. If those outcomes are widely distributed, it depends on luck. The characteristics of the underlying population are irrelevant.