A Quote by Greg Louganis
Fear is a part of everything you do ... You have to take great risks to get big rewards.
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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.
Most everybody thinks that if I want to get big rewards I need to take huge risks. But if you keep thinking that, you're gonna be broke.
One doesn't accept bad challenges. Part of it is always the risk-taking without seeing that the risks are rational and the rewards are commensurate.. are more than commensurate.. with the risks.
Doubts are suppressed by groups... But remember that the internal incentives that shape how the group perceives risks and rewards may be very different from the reality of the risks and rewards in the external marketplace. Those incentives can distort risk perception.
Every day, you'll have opportunities to take chances and to work outside your safety net. Sure, it's a lot easier to stay in your comfort zone.. in my case, business suits and real estate.. but sometimes you have to take risks. When the risks pay off, that's when you reap the biggest rewards.
As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It's like crime without punishment or sex without sin.
Ironically, the opportunity to go into space brings you back down to Earth big time! My decision must also take into account my children, my family and my friends. I must be at peace with this decision. And I was. I weighed the risks without letting fear feed on fear. There is no room for fear in my life.
I think it's a competitive advantage that both Amazon and Google and other tech companies have over a lot of their counterparts. They take big risks and are pioneering new markets with the promise of big rewards. It's why Amazon is kind of reliably starting new businesses and opening kind of new frontiers.
I think you've got to take the risks. There's no point playing it safe, because either you'll get bored or the audiences will get bored. Sometimes, you're going to make mistakes, and that's fine, but you have to take the risks. I think Pirates is one of the prime examples of that with Johnny Depp's performance, and part of the reason that people love it so much is that you watch it and go, "Gutsy, really gutsy!"
Find what you love and find a way to make that part of your every day. You have to find the confidence to take certain risks. You're going to hear a lot of no's before you get to the yes'. It's important to have that confidence to overcome that and know it's part of trying to grow something big.
When rewards go up, people are more inclined to take risks.
Philosophers talk about truth and falsehood. People in life talk about payoff, exposure, and consequences (risks and rewards), hence fragility and antifragility. And sometimes philosophers and thinkers and those who study conflate Truth with risks and rewards.
When you don't have anything to lose, you discover something wonderful: you're free to take great risks without fear or reservation.
The great enemy of creativity is fear. When we're fearful, we freeze up - like a nine-year-old who won't draw pictures, for fear everybody will laugh. Creativity has a lot to do with a willingness to take risks. Think about how children play. They run around the playground, they trip, they fall, they get up and run some more. They believe everything will be all right. They feel capable; they let go. Good businesspeople behave in a similar way: they lose $15 million, gain $20 million, lose $30 million and earn it back. If that isn't playing, I don't know what is!
I compensate for big risks by always doing my homework and being well-prepared. I can take on larger risks by reducing the overall risk.
The proposal is frequently made that the government ought to assume the risks that are "too great for private industry." This means that bureaucrats should be permitted to take risks with the tax payer's money that no one is willing to take with his own.
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