A Quote by Larry Hite
There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
Related Quotes
He who bets on governments and government money bets against 6,000 years of recorded human history.
Always hedge your bets. That's how I do it. I lay all my bets on what I can contribute, and suffer no illusions that I'm generating stuff by myself.
The one thing that I think separates Microsoft from a lot of other people is we make bold bets. We're persistent about them, but we make them. A lot of people won't make a bold bet. A bold bet doesn't assure you of winning, but if you make no bold bets you can't continue to succeed. Our industry doesn't allow you to rest on your laurels forever. I mean, you can milk any great idea. Any idea that turns out to be truly great can be harvested for tens of years. On the other hand, if you want to continue to be great, you've got to bet on new things, big, bold bets.
Betting against gold is the same as betting on governments. He who bets on governments and government money bets against 6,000 years of recorded human history.
There are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.
What I learned at LucasArts was, you don't make your bets on ideas: ideas are cheap. You make your bets on people.
Where I come from, no one settled their disagreements with bets, because no one of us had any money to bet.
You need to be uncomfortable and apprehensive: True strategy is about placing bets and making hard choices. The objective is not to eliminate risk but to increase the odds of success.
I guarantee you 80 percent of this country will stop watching cricket if they did not bet on a match. Every single person bets I am sorry to say.
When we got married, nobody gave it more than two weeks. There were bets all over the country, with astronomical odds against us.
If I had to lay bets, my bet would be that everything is going to go to hell, but, you know, what else have we got except hope?
The best restraint is old-fashioned market discipline, in which financial traders know that they, personally, will lose a ton of money if they take risky bets that don't pan out.
Are you placing enough interesting, freakish, long shot, weirdo bets?
I'm not making any bets on the future.
In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.
Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences.
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