There is a call for a strategy every time the path to a given destination is not straightforward or whenever judgments are required on resources needed, their effective application, and their appropriate sequence.
“But if men and women were not at the mercy of impersonal deities and random chance, they could no longer remain passive in the face of an unknown future. They had no choice but to begin making decisions over a far wider range of circumstances and over far longer periods of time than ever before.”
― Against the Gods: The Remarkable Story of Risk
― Against the Gods: The Remarkable Story of Risk
“There is a strong probability that the hot manager of today will be the cold manager of tomorrow, or at least the day after tomorrow, and vice versa. This”
― Against the Gods: The Remarkable Story of Risk
― Against the Gods: The Remarkable Story of Risk
“Many readers responded, among them Marcel Proust, who took delight in the question. “I think that life would suddenly seem wonderful to us if we were threatened to die as you say,” he wrote. “Just think of how many projects, travels, love affairs, studies, it—our life—hides from us, made invisible by our laziness which, certain of a future, delays them incessantly.” His point being, how unfortunate that it takes being aware of an ending”
― Why Time Flies: A Mostly Scientific Investigation
― Why Time Flies: A Mostly Scientific Investigation
“but between reject and not—reject. You can decide that the probability that you are wrong is so small that you should not reject the hypothesis. You can decide that the probability that you are wrong is so large that you should reject the hypothesis. But with any probability short of zero that you are wrong—certainty rather than uncertainty—you cannot accept a hypothesis.”
― Against the Gods: The Remarkable Story of Risk
― Against the Gods: The Remarkable Story of Risk
“Stock prices in general follow changes in company fortunes. Investors who focus excessively on the short run are ignoring a mountain of evidence demonstrating that most surges in earnings are unsustainable. On the other hand, companies that encounter problems do not let matters slide indefinitely. Managers will set to work making the hard decisions to put their company back on track”
― Against the Gods: The Remarkable Story of Risk
― Against the Gods: The Remarkable Story of Risk
Rafael’s 2025 Year in Books
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