Quotes About Decision

No matter who you are or what may be your lifework, you are playing checkers with TIME! It is always your next move. Move with quick DECISION and Time will favor you. Stand still and Time will wipe you off the board. You cannot always make the right move, but, if you make enough moves you may take advantage of the law of averages and pile up a creditable score before the great game of LIFE is ended.

This idea that in order to make a decision you need to focus on the consequences (which you can know) rather than the probability (which you can't know) is the central idea of uncertainty.

The quality of a decision cannot be solely judged based on its outcome.

one cannot judge a performance in any given field (war, politics, medicine, investments) by the results, but by the costs of the alternative (i.e., if history played out in a different way).

This idea that in order to make a decision you need to focus on the consequences (which you can know) rather than the probability (which you can't know) is the central idea of uncertainty. Much

Bir treni kaç?rmak ancak peÅŸinden koÅŸarsan?z ac? verici olur.

We are the empirical decision makers who hold that uncertainty is our discipline, and that understanding how to act under conditions of incomplete information is the highest and most urgent human pursuit.

is often a good career move for an author.

A squeeze occurs when people have no choice but to do something, and do it right away, regardless of the costs.

My point taken further is that True and False (hence what we call "belief") play a poor, secondary role in human decisions; it is the payoff from the True and the False that dominates—and it is almost always asymmetric, with one consequence much bigger than the other, i.e., harboring positive and negative asymmetries (fragile or antifragile). Let

we got here by accident does not mean that we should continue to take the same risks.

The more uncertainty, the more valuable the option.

There seems to be no such thing as a foolish decision if it results in profits.

most successes are caused by very few "windows of opportunity," failing to grab one can be deadly for one's career.

the decision maker focuses on the payoff, the consequence of the actions (hence includes asymmetries and nonlinear effects).

The world is split between those who don't know how to start making money and those who don't know when to stop.

Option = asymmetry + rationality

The fragile has no option. But the antifragile needs to select what's best—the best option.

that a casino was precisely the venue not to pick for such a discussion

those who don't take risks should never be involved in making decisions.

There are some risks we just cannot afford to take. And there are other risks (of the type academics shun) that we cannot afford to not take.

have some element of loss aversion.

I would like the option of having neither.

many people become long-term investors after they lose money, postponing their decision to sell as part of their denial.