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Noun: any fortunate event or achievement that is a result of luck. Verb: To achieve something good or end up in some good circumstance by sheer luck. The term has its origins in the Spanish verb "cagar" which means "to take a crap, to shit, to defacate". In English, when something lucky happens or is accomplished, one might say that it was "pulled out of (a person's) ass". The idea is the same with "cag".
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