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Midas Touch


The Midas Touch.  Some leaders in business have the Midas touch because they carefully research the idea and decide the propitious time to act.   Probably, Warren Buffet fits this description.  Other leaders believe that what they touch should succeed simply because they have touched it.  I would put Tesla CEO Elon Musk in the second category.

Transference of ability.  This phenomena posits that an expert in one area believes their expertise  transfers to another area (of their choice).  For example, the sports star turns to sports administrator,  the millionaire businessman who turns to politics, or the academic who turns to anything else. But in their minds, they are still the star.  If they fail, it is the fault of others. If they succeed, they prove themselves right.  Of course they all write books on how good they are at their new venture.

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