A Quote by Barry Ritholtz

Investing is about making probabilistic decisions with limited information about an unknowable future. The variables are well known, as are the possible outcomes.

Barry Ritholtz

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About Decisions Future Information Investing Known Limited Making Outcomes Possible Unknowable Variables Well Well Known

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Barry Ritholtz
American - Author

Decision-making is difficult because, by its nature, it involves uncertainty. If there was no uncertainty, decisions would be easy! The uncertainty exists because we don't know the future, we don't know if the decision we make will lead to the best possible outcome. Cognitive science has taught us that relying on our gut or intuition often leads to bad decisions, particularly in cases where statistical information is available. Our guts and our brains didn't evolve to deal with probabilistic thinking.

Daniel Levitin

Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank... need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.

Alan Greenspan

Going around not fully believing that you're going to die is really problematic because it affects how you think about the future of the planet, about the future of your own life, about the decisions you're making.

Caitlin Doughty

To say that we cannot know anything about God is to say something about God; it is to say that if there is a God, he is unknowable. But in that case, he is not entirely unknowable, for the agnostic certainly thinks that we can know one thing about him: That nothing else can be known about him.

J. Budziszewski

It's about time we make the well-being of our young people more important than ideology and politics. As a country, we benefit from investing in their future by investing in teen pregnancy prevention.

Jane Fonda

Leadership is about making decisions with the information you have, not the information people will have 12 years later, i kind of feel sorry for my friend Jeb Bush.

Mike Huckabee

The nice thing about baseball is that all of the possible outcomes are known - it's not quite as messy as the real world. That makes the game an excellent playground for probability.

Paul DePodesta

So key for making smart decisions is a mindset that actively monitors and is open to shifting tides and new information, one that is acutely aware that the interplay between our environment and its outcomes is ever in flux.

Noreena Hertz

If we decide rightly what to do, or use a correct procedure for making such decisions, that has to be because the decisions or the procedure rest on good reasons, and these reasons consist in the apprehension of truths about what we ought to do. Because these truths must constitute reasons for our decisions, and because in the rational order, reasons must always precede the decisions based on them, the truth conditions of claims about what we ought to cannot be reduced to, or constructed out of, decisions about what to do, or procedures for making such decisions.

Allen W. Wood

Usually, I'm pretty good about sorting through the options and then making decisions that I'm confident are the best decisions in that moment, given the information we have. But there are times where I think I wish I could have imagined a different level of insight.

Barack Obama

Impact investing has become a broad umbrella that includes all investing with a focus on both financial return and social impact, but in its best form, impact investing prioritizes impact over returns and achieves outcomes that traditional investing cannot.

Jacqueline Novogratz

The game of investing is one of making better predictions about the future than other people. How are you going to do that? One way is to limit your tries to areas of competence. If you try to predict the future of everything, you attempt too much.

Charlie Munger

Good design isn't about making decisions for your users, it's about making those decisions irrelevant.

Rands

In the start-up setting and in most companies, the output is action-oriented. You need to be getting things done and making decisions, often with limited information.

Andrew Yang

To minimize market uncertainty and achieve the maximum effect of its policies, the Federal Reserve is committed to providing the public as much information as possible about the uses of its balance sheet, plans regarding future uses of its balance sheet, and the criteria on which the relevant decisions are based.

Ben Bernanke

My ultimate goal is to create operating systems for myself that allow me to think as little as possible about the silly decisions you can make all day long - like what to eat or where we should meet - so I can focus on making real decisions.

Alexa Von Tobel

A Quote by Barry Ritholtz

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