Chip Gaines Quotes

With poker, you have a resolution of the hand within a couple of minutes. Whereas, even if the thought process in investing is very much the same, you're looking at an outcome that could be 2, 3, 4, 5 years from when you make the original decision. And the mindset related to that is very different.

The ultimate risk is not taking a risk.

If you don't risk anything, you risk even more.

Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.

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

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.

The biggest risk is not taking any risk... In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.

The man who knows it can't be done counts the risk, not the reward.

As a first-time CEO, I wasn't sure if I would scale to run IronPort long-term. But I wanted a legitimate shot at it.

He either fears his fate too much, Or his deserts are small, That dares not put it to the touch, To gain or lose it all.

In markets, there are times when you are looking for what makes sense. At other times, you are looking for what you can do that is sensible versus constraints and uncertainties.

One of many strengths that I often see in successful women on Wall Street is a responsible balance between risk taking and risk mitigation - the ability to assess situations smartly and make the right medium-to-long-term decisions without being lured into reckless, short-term profit-taking.

As a player you can't be too worried if you take a risk and whether it's not going to come off.

Poker is all about comfort with uncertainty, after all.

The two great risks are risking too much but also risking too little. That's for each person to decide. For me, not risking anything is worse than death. By far.

Nobody can really guarantee the future. The best we can do is size up the chances, calculate the risks involved, estimate our ability to deal with them and then make our plans with confidence.

It is the very essence of intelligence to coordinate means with a view to a remote end, and to undertake what it does not feel absolutely sure of carrying out.

Playing it safe is the riskiest choice we can ever make.

Load the ship and set out. No one knows for certain whether the vessel will sink or reach the harbor. Cautious people say, 'I'll do nothing until I can be sure.' Merchants know better. If you do nothing, you lose. Don't be one of those merchants who wont risk the ocean.

There is the risk you cannot afford to take, and there is the risk you cannot afford not to take.

Does the logic connect? What are the range of probably outcomes? You want to figure out what those probabilities are and ideally be the House. It's fine to gamble, as long as you're the House. Also, listen to critical feedback, particularly from friends. Generally they will be thinking it but they won't tell you.

you must be careful never to allow doubt to paralyze you. always take the decisions you need to take, even if you're not sure you're doing the right thing. You'll never go wrong if, when you make a decision, you keep in mind an old German proverb: 'The devil is in the detail.' Remember that proverb and you'll always be able to turn a wrong decision into a right one.

Investment decisions and personal decisions don't wait for the picture to be clarified.

The entrepreneurial mind-set is that risk is the heightened probability that there is a big range of possible outcomes.

You have to take calculated risks in life.