The ability to calibrate risk doesn't happen rationally.
Sentiment: NEGATIVE
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.
It seems to be a law of nature, inflexible and inexorable, that those who will not risk cannot win.
The reality is, risk is variable. Those in the financial world know it.
Risk is to do something that 99 percent of the time would be a failure.
Risk is trying to control something you are powerless over.
If individuals are rational, there is no need to protect them against their own choices.
We misjudge risk if we feel we have some control over it, even if it's an illusory sense of control.
Neither science, nor the politics in power, nor the mass media, nor business, nor the law nor even the military are in a position to define or control risks rationally.
Risk comes from not knowing what you're doing.
When I take a risk, I like it to be a calculated risk, meaning I make it as small as possible.
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