A Quote by Michael Lewis
Don't be deceived by life's outcomes. Life's outcomes, while not entirely random, have a huge amount of luck baked into them.
Related Quotes
People really don't like to hear success explained away as luck — especially successful people. As they age, and succeed, people feel their success was somehow inevitable. They don't want to acknowledge the role played by accident in their lives. There is a reason for this: the world does not want to acknowledge it either. If you use better data, you can find better values; there are always market inefficiencies to exploit, and so on. But it has a broader and less practical message: don't be deceived by life's outcomes. Life's outcomes, while not entirely random, have a huge amount of luck baked into them. Above all, recognize that if you have had success, you have also had luck — and with luck comes obligation.
Expected outcomes contribute to motivation independently of self-efficacy beliefs when outcomes are not completely controlled by quality of performance. This occurs when extraneous factors also affect outcomes, or outcomes are socially tied to a minimum level of performance so that some variations in quality of performance above and below the standard do not produce differential outcomes
Nations that pay for outcomes and health actually spend a lower percentage of GDP, and they have better outcomes. And so the Affordable Care Act is starting to make that migration, but we've got to keep down that path, and we'll improve outcomes and reduce cost.
Accurate processing of information about outcomes is no simple task under the variable conditions of everyday life . . . usually, many factors enter into determining what effects, if any, given actions will have, Actions, therefore, produce outcomes probabilistically rather than certainly. Depending on the particular conjunction of factors, the same course of action may produce given outcomes regularly, occasionally, or only infrequently
It is still true that the life we have created for ourselves on this earth is not working. Not one of the systems we have put into place in our world is functional - not the political, not the economical, not the ecological, not the educational, not the social, and not the spiritual. None of them are producing the outcomes we say we want. In fact, it's worse. They are producing the outcomes we say we don't want.
One word that seems to connect both leaders and employees is: 'outcomes.' Built into that word is the implicit and explicit understanding and agreement that effective actions lead to good outcomes; ineffective actions lead to poor outcomes.
We have no control over outcomes, but we can control the process. Of course, outcomes matter, but by focusing our attention on process, we maximize our chances of good outcomes.
The problem that people don't understand is that active managers, almost by definition, have to be poorly diversified. Otherwise, they're not really active. They have to make bets. What that means is there's a huge dispersion of outcomes that are totally consistent with just chance. There's no skill involved it. It's just good luck or bad luck.
Constraint theory defines for you what outcomes are possible and what outcomes are impossible. It also eliminates wishful thinking.
It is a very bad idea for governments to create arbitrary and unfair outcomes, or outcomes resulting from the passions and whims of the government rather than from the law, just because they have the power to do so.
If you do things the same way you've always done them, you'll get the same outcomes you've always gotten. In order to change your outcomes, you've got to do things differently.
We're very focused in on outcomes for government with respect to the amount of tax that goes in and the amount of expenditures that go out.
The chance you passed up or missed could have had any number of different outcomes, and it's easy to fantasize about how much better every one of those outcomes would have been.
It is widely assumed that beliefs in personal determination of outcomes create a sense of efficacy and power, whereas beliefs that outcomes occur regardless of what one does result in apathy
Because mechanism designers do not generally know which outcomes are optimal in advance, they have to proceed more indirectly than simply prescribing outcomes by fiat; in particular, the mechanisms designed must generate the information needed as they are executed.
When progressives talk about equity, they mean equal outcomes, not opportunities. They want a government that's so powerful, it owns everything and chooses how wealth is distributed to ensure equal outcomes. That in essence is socialism.
Related Authors
Brian Tracy Quotes
American
Author
Cassandra Clare Quotes
American
Author
Frederick Lenz Quotes
American
Author
Henry David Thoreau Quotes
American
Author
J. K. Rowling Quotes
English
Author
Jodi Picoult Quotes
American
Author
John Green Quotes
American
Author
Joyce Meyer Quotes
American
Author
Marianne Williamson Quotes
American
Author
Neil Gaiman Quotes
British
Author
Richelle Mead Quotes
American
Author
Rick Riordan Quotes
American
Author
Robert Kiyosaki Quotes
American
Author
Stephen King Quotes
American
Author
Terry Pratchett Quotes
English
Author
Virginia Woolf Quotes
British
Author