Quotes About Risk

Instead of having medium risk, you have high risk on one side and no risk on the other.

Some become antifragile at the expense of others by getting the upside (or gains) from volatility, variations, and disorder and exposing others to the downside risks of losses or harm. And such antifragility-at-the-cost-of-fragility-of-others is hidden

Now, when you read material by finance professors, finance gurus, or your local bank making investment recommendations based on the long-term returns of the market, beware. Even if their forecasts were true (they aren't), no individual can get the same returns as the market unless he has infinite pockets and no uncle points.

the most successful businesses are precisely those that know how to work around inherent unpredictability and even exploit it.

Uncertainty did occasionally pay off there.

should avoid engaging in an action with a big downside if one has no idea of the outcomes.

when you have a very limited loss you need to get as aggressive, as speculative, and sometimes as "unreasonable" as you can be.

Traders, when they make profits, have short communications; when they lose they drown you in details, theories, and charts.

volatility benefits managers since they only get one side of the payoffs.

We could plan while bearing in mind such limitations.

or mistaking a profitable bet for good forecasting—not convexity of payoff and optionality).

A doctor is pushed by the system to transfer risk from himself to you

We need people to take (bounded) risks.

Who is this book written for?

We could plan while bearing in mind such limitations. It just takes guts.

I love taking small losses,"he says. "I just need my winners to be large.

Why anything with optionality has a long-term advantage

In fact for most people except those that are very ill, the risks outweigh the benefits.

he had so little to lose. She accepted since she had no choice.

A man is honorable in proportion to the personal risks he takes for his opinion—in other words, the amount of downside he is exposed to.

Success brings an asymmetry: you now have a lot more to lose than to gain.

Retirees get less upside than downside.

This is no different from the Bob Rubin risk-transfer trade, of delaying risks and making them look invisible.

the easier it was to make money.