Between calculated risk and reckless decision-making lies the dividing line between profit and loss.
Sentiment: POSITIVE
I think there's a difference between a gamble and a calculated risk.
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.
Entrepreneurs love to view risk as binary. The more you put on the line, the greater the potential for reward.
There are some risks we choose to take because the benefits from taking them exceed the possible costs. Optimal behavior takes risks that are worthwhile. This is the central paradigm of finance: we must take risks to achieve rewards, but not all risks are equally rewarded.
Creative risk taking is essential to success in any goal where the stakes are high. Thoughtless risks are destructive, of course, but perhaps even more wasteful is thoughtless caution which prompts inaction and promotes failure to seize opportunity.
In business, you try to minimise risk.
Thoughtless risks are destructive, of course, but perhaps even more wasteful is thoughtless caution which prompts inaction and promotes failure to seize opportunity.
Action makes more fortune than caution.
Risk comes from not knowing what you're doing.
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