A Quote by Paul Clitheroe
When investing, I'm not against risk. If you take no risk you must expect a low return. Just don't let anyone fool you into thinking you can get a high return with low risk.
Related Quotes
To laugh is to risk appearing a fool. To weep is to risk appearing sentimental. To reach out to another is to risk involvement. To expose feelings is to risk exposing your true self. To place your ideas and dreams before a crowd is to risk their loss. To love is to risk not being loved in return. To hope is to risk pain. To try is to risk failure. But risks must be taken, because the greatest hazard in life is to risk nothing.
In any business opportunity, you'd be looking, probably, primarily at the risk and return. Some business can be very risky with a low return; what you want is the lowest risk with the biggest return.
to love is to risk, not being loved in return. to hope is to risk pain. to try is to risk failure. but risk must be taken because the greatest hazard in my life is to risk nothing.
Using volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return.
Some of the most vulnerable people to getting the SARS virus are health care providers. The general public, walking in the street, there is really not that much risk at all. It's a very, very low risk - a very, very low risk.
Studies of immigration show that this resistance to heart disease is not just something in African or Chinese genes. When people move from low-risk to high-risk areas, disease rates skyrocket as they adopt Western diets and lifestyles.
To laugh is to risk appearing a fool, to weep is to risk appearing too sentimental, to reach out for another is to risk involvement, and to expose feelings is to risk exposing one's true self.
Managing risk is a key variable, frankly, all aspects of life, business is just one of them, and one of the things that most people do in terms of managing risk, that's actually bad thinking, is they think they can manage risk to zero. Everything has some risk to it. You know, you drive your car down the street, a drunk driver may hit you. So what you're doing is you're actually trying to get to an acceptable level of risk.
We regard using [a stock's] volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return. Some great businesses have very volatile returns - for example, See's [a candy company owned by Berkshire] usually loses money in two quarters of each year - and some terrible businesses can have steady results.
Unlike return, however, risk is no more quantifiable at the end of an investment that it was at its beginning. Risk simply cannot be described by a single number. Intuitively we understand that risk varies from investment to investment: a government bond is not as risky as the stock of a high-technology company. But investments do not provide information about their risks the way food packages provide nutritional data.
Often you need to take some risk, but it must be a realistic risk, you can't take a crazy risk.
Innovation implies high risk, and with high risk comes failure, so you've got to be prepared for that, but if you don't risk, then your business goes stale very quickly.
We're in the business not so much of being contrarians deliberately, but rather we like to take perceived risk instead of actual risk. And what I mean by that is that you get paid for taking a risk that people think is risky, you particularly don't get paid for taking actual risk.
In some industries, we refer to risk taking as 'research and development.' At financial institutions, we often take risk by investing in securities.
Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.
With the socialization of the health care system through institutions such as Medicaid and Medicare and the regulation of the insurance industry (by restricting an insurer’s right of refusal: to exclude any individual risk as uninsurable, and discriminate freely, according to actuarial methods, between different group risks) a monstrous machinery of wealth and income redistribution at the expense of responsible individuals and low-risk groups in favor of irresponsible actors and high-risk groups has been put in motion.
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