Quotes About Strategy

One useful trick, I discovered, is to avoid listening to the question of the interviewer, and answer with whatever I have been thinking about recently. Remarkably, neither the interviewers nor the public notices the absence of correlation between question and answer.

If humans fight the last war, nature fights the next one.

Don't complain too loud about wrongs done you; you may give ideas to your less imaginative enemies.

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

In spite of what is studied in business schools concerning "economies of scale," size hurts you at times of stress; it is not a good idea to be large during difficult times.

Because what matters in life isn't how frequently one is "right" about outcomes, but how much one makes when one is right. Being wrong, when it is not costly, doesn't count—in a way that's similar to trial-and-error mechanisms of research.

Some business bets in which one wins big but infrequently, yet loses small but frequently, are worth making if others are suckers for them and if you have the personal and intellectual stamina.

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).

understanding how to act under conditions of incomplete information is the highest and most urgent human pursuit.

One general, Fabius Maximus was nicknamed Cunctator, "the Procrastinator." He drove Hannibal, who had an obvious military superiority, crazy by avoiding and delaying engagement.

To become a successful philosopher king, it is much better to start as a king than as a philosopher

There are two types of people: those who try to win and those who try to win arguments. They are never the same.

The model was right, it worked well, but the game turned out to be a different one than anticipated.

The difference between a trader and an investor lies in the duration of the bet, and the corresponding size. There

The policies we need to make decisions on should depend far more on the range of possible outcomes than on the expected final number. I

If you engage in a Black Swan–dependent activity, it is better to be part of a group.

These traders lose money frequently, but in small amounts, and make money rarely, but in large amounts. I call them crisis hunters. I am happy to be one of them.

Don't tell me what you "think," just tell me what's in your portfolio.

A mild degree of unpredictability in your behavior can help you to protect yourself in situations of conflict. Say

Their focus becomes to play politics

that he felt proud of his sticking to his strategy for so long

el mayor y más acuciante objetivo humano es comprender cómo actuar en condiciones de información incompleta.

Steve Jobs: «La gente pensa che essere concentrati significhi dire sì alla cosa sulla quale ci si deve focalizzare. Ma non è affatto così. Significa dire no ad altre cento buone idee. Dovete scegliere con cura. Di fatto io sono orgoglioso delle cose che non abbiamo fatto tanto quanto lo sono di quelle che ho fatto. Innovazione significa dire no a mille cose».

The more uncertainty, the more valuable the option.