I think that we have to be constantly asking ourselves, 'How do we calculate the risk?' And sometimes we don't calculate it correctly; we either overstate it or understate it.
Sentiment: NEGATIVE
When I take a risk, I like it to be a calculated risk, meaning I make it as small as possible.
It's important to understand how people perceive risk, and how that translates into investment behavior.
We historians are increasingly using experimental psychology to understand the way we act. It is becoming very clear that our ability to evaluate risk is hedged by all sorts of cognitive biases. It's a miracle that we get anything right.
Risks are a measure of people. People who don't take them are trying to preserve what they have. Some risks have a future, and some people call them wrong. But being right may be like walking backwards, proving where you've been.
Risk more than others think safe.
I talk a lot about taking risks, and then I follow that up very quickly by saying, 'Take prudent risks.'
We necessarily operate in an environment in which there's a great deal of uncertainty. In such an environment, it makes sense to use a risk-management approach to identify and avoid the big mistakes. That's one reason I favor a cautious approach.
There has to be an element of risk-taking for me in my work.
Risk will always be a part of life. It's how we recognize this and deal with it that matters.
We misjudge risk if we feel we have some control over it, even if it's an illusory sense of control.
No opposing quotes found.