I have several times explained, bhaga means richness, bhaga means influence, bhaga means bodily strength, bhaga means knowledge, bhaga means beauty and bhaga means renunciation. Aiśvaryasya samāgrasya vīryasya yaśasaḥ śriyaḥ (Viṣṇu Purāṇa 6.5.47). And bhaga means reputation, fame. So these are the symptoms of bhaga. So Parīkṣit Mahārāja, although nobody can be equal to Kṛṣṇa . . . Bhagavān means asamaurdha: nobody is equal to Him; nobody is greater than Him. That is Bhagavān. I am fortunate, you are fortunate, but we have got many equals and many greater than. But when you reach somebody where you find nobody is equal to Him and nobody is greater than Him, that is real Bhagavān. This is a logical conclusion, who is Bhagavān.
Nowadays so many rascals, they write "Bhagavān." That is blasphemy. If Bhagavān likes, such persons should be punished. But Bhagavān excuses. That is another thing. So Bhagavān is Kṛṣṇa. Kṛṣṇas tu bhagavān svayam (SB 1.3.28). Nobody should try to become equal to Him. That is not possible.
So here Śukadeva Gosvāmī is addressed as mahā-bhāga. Mahā means great, and bhāga means fortunate. Because he is very fortunate, he is describing Śrīmad-Bhāgavatam. Again Bhāgavatam, the same word bhaga comes. Bhāgavat. Bhāgavat . . . vat, this word, is used when the meaning is "possessing." Asty arthe vatup. Bhagavān, bhāgyavān and bhāgavat. Bhāgavat means one who has power to possess the Supreme Lord. He is called bhāgavata. There are two kinds of bhāgavata: one is grantha-bhāgavata and one is person bhāgavata. A devotee, he is called bhāgavata, and the book in which the pastimes or characteristics of Bhagavān is described, that is called Bhāgavata.