Retrieval of an arbitrary item from a linked list is O(n). Arbitrary means any of the elements are eligible for selection, without loss of generality.
However, retrieval of a specific item from a linked list has nothing to do with how many items are in the list. It is therefore O(1). Retrieving the 50th item from a linked list takes the same amount of time, no matter whether the list has 50 elements, 50M elements, or 50^50! elements.
http://xkcd.com/386/