Bertrand Russell Quotes

I tend to pick objectives that I feel are safe because I know that, in the moment, I always go for it. I have some rules for myself, though: Look for the rock faces without a lot of loose rock. Always rope up on glaciers where there is even a slight chance of falling into a crevasse. No pure free soloing. Never climb below hanging glaciers.

Take calculated risks. That is quite different from being rash.

I don't like expeditions where it is a total lottery whether you live or die. You have to keep those sort of good luck cards for rare occasions!

The choice is between which mistake is easier to correct: underdoing it or overdoing it.

Risk comes from not knowing what you're doing.

You don't concentrate on risks. You concentrate on results. No risk is too great to prevent the necessary job from getting done.

Taking risks gives me energy.

Creative risk taking is essential to success in any goal where the stakes are high. Thoughtless risks are destructive, of course, but perhaps even more wasteful is thoughtless caution which prompts inaction and promotes failure to seize opportunity.

When you are in any contest, you should work as if there were - to the very last minute - a chance to lose it. This is battle, this is politics, this is anything.

Could we have prevented in 100% certainty? I don't think anything is that certain. However, we would have had a very, very good chance for preventing it.

No company can be expected to build a nuclear reactor, an oil well, a coal mine, or anything else that's one hundred percent safe under all circumstances. The costs would be prohibitive. It's unreasonable to expect corporations to totally guard against small chances of every potential accident.

There is no elimination of all risks.

We respond to the unknown by trying to retreat from it, or trying to comprehend it, or trying to control it. The first approach is evident in longings for return to a simpler "risk-free" life that never was. The second is reflected in the fantasy of synoptic risk assessment: Measure the requisite probabilities and trade-offs, calculate the social risk-benefit function, and the common good will have been defined. The third approach is in the tradition of professional engineering. It serves us well but, as engineers have been among the first to point out, has met its match and more in the complex social problems it increasingly is called upon to address.

Don’t ignore planning for unlikely events. Over long periods of time the highly improbable gets more probable to occur at least once.

When I worry about risks, I worry about the biggest ones, particularly those that are difficult to predict - the ones I call small but deep holes. While odds are you will avoid them, if you do fall in one, it's a long way down and nearly impossible to claw your way out.

It's only a risk if you think there's a chance of failure.

Some people are just more prepared to take risks than others. I grew up a gambler. That's my name: Maverick.

The success of a particular policy prescription is always a gamble.

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.

Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.

I'm afraid a lot of people have lost a lot of money over the years betting on me.

If you roll dice, you know that the odds are one in six that the dice will come up on a particular side. So you can calculate the risk. But, in the stock market, such computations are bull - you don't even know how many sides the dice have!

With each game I play, with each season I play, I'm running out of chances. You're never guaranteed next year. You're never guaranteed the next game. You have to seize the opportunity when it's there in front of you.

The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.

So the laws of good driving forbade you to go off the magic ribbon except in extreme emergencies. You were ethically entitled to several inches of margin at the right-hand edge; and the man approaching you was entitled to an equal number of inches; which left a remainder of inches between the two projectiles as they shot by. It sounds risky as one tells it, but the heavens are run on the basis of similar calculations, and while collisions do happen, they leave time enough in between for universes to be formed, and successful careers conducted by men of affairs.