A Quote by Adena Friedman
One of many strengths that I often see in successful women on Wall Street is a responsible balance between risk taking and risk mitigation - the ability to assess situations smartly and make the right medium-to-long-term decisions without being lured into reckless, short-term profit-taking.
Related Quotes
If the short-term decisions you make damage the long term, you should resist those. But there are many short-term decisions that you need to make to be a successful manager.
Business is all about learning to balance the short-term, medium-term and long-term and I think it's when things are going well it covers up a lot of mistakes and bad decisions because you're growing so quickly.
Pressure to produce over the short term - a gun to the head of everyone - encourages excessive risk taking which manifests itself in several ways - fully invested posture at all times, the use of leverage, and a market centric orientation that makes it difficult to stand apart from the crowd and take a long term perspective.
Unless you invest in people, you are not going to see growth in the long term, the medium term, and maybe even the short term.
What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation should be focused on - on long term, so that you don't have rewards for short-term risk-taking.
I want to take a long-term view. Being distracted by short term things can be dangerous when you are making cold, calm, long-term decisions.
Whatever the short term clashes between protecting the environment and eradicating poverty, medium term and long term it is clear. Unless we grow sustainably, at some point we face catastrophe
Do not accept principal risk while investing short-term cash: the greedy effort to earn a few extra basis points of yield inevitably leads to the incurrence of greater risk, which increases the likelihood of losses and severe illiquidity at precisely the moment when cash is needed to cover expenses, to meet commitments, or to make compelling long-term investments.
Focus on the long term, and always do what's right to grow the company and not make short-term decisions. And outlast everyone one.
People are willing to get short-term gains at the risk of long-term choices.
If we can find short-term incentives that are consistent with our long-term objectives, it is much easier to make the right decisions in the moment.
The only sure way to stop excessive risk taking on Wall Street so you don't risk losing your job, or your savings or your home, is to put an end to the excessive economic and political power of Wall Street by busting up the big banks.
The majority of short term trading results are just random. In the long term the money ends up with those that can trade and manage risk.
Taking on short term risk can involve switching jobs, joining new groups / associations in the area, launching a personal blog, running an experiment within your existing job. These are some practical ways to inject volatility into your life, and thus some risk.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
The dominance of short-term perspectives has led to routine decisions in the markets that sacrifice the long-term buildup of genuine value in pursuit of artificial, short-term gains.
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