Quote

If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.

— Bernard Baruch

Sentiment: NEGATIVE

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✓Similar Perspectives

The reality is that a person who has always struggled with numbers is unlikely to be a great accountant or statistician.

— Tom Rath

In certain businesses, I would say 10 failures to one success is a perfectly acceptable ratio. Because the failures die pretty quickly, they're not that expensive, and the successes can be really huge.

— Tim Harford

Great investors need to have the right combination of intuition, business sense and investment talent.

— Andrew Lo

Too many people measure how successful they are by how much money they make or the people that they associate with. In my opinion, true success should be measured by how happy you are.

— Richard Branson

Be precise. A lack of precision is dangerous when the margin of error is small.

— Donald Rumsfeld

Success produces confidence; confidence relaxes industry, and negligence ruins the reputation which accuracy had raised.

— Ben Jonson

An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.

— Daniel Kahneman

The average man's judgment is so poor, he runs a risk every time he uses it.

— E. W. Howe

On average, people should be more skeptical when they see numbers. They should be more willing to play around with the data themselves.

— Nate Silver

✗Opposing Perspectives

The 50-50-90 rule: Anytime you have a 50-50 chance of getting something right, there's a 90% probability you'll get it wrong.

— Andy Rooney