Not taking a risk is a risk. That's how I see it.
Not taking a risk is a risk. That's how I see it.
Not taking a risk is a risk. That's how I see it.
8 comments
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As a response to the saying .... "Fuck around and find out" ....
A Canadian YouTube mechanic said ... "If you don't Fuck around, how are you ever going to find out?"
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Yes, opportunity cost is also a cost.
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This is a good insight that has wide application. For example in the context of investing: every portfolio is always fully invested, even 100% cash which runs the risk of not meeting the investor's goals.
However it's not always true in all contexts. For example in formal games, there may be a no-risk path to victory for you, where every move can be dominant. In this sense there is no risk in taking those dominant moves to win the game.
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"There comes a time when the risk of doing nothing becomes the greatest risk of all"
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It's not safe to feel safe.
8 comments
Sure. It's about balancing risks, what the business world calls Risk Mitigation (there's an entire field(s) called Risk Analysis and Management)
We always ask "what's the risk?" Both for making a given change or not making it. We then attempt to asses which risk is more manageable - which can be "mitigated".
We have teams whose job it is to analyze the usentied risks, and try to quantify them to enable decision making.
Right, and the flip side of this is roughly opportunity cost.
Assess the risk, and potential benefits, of every action, where nonaction is... also an action.
If you 'do nothing', and others 'do something', and the net result is you are now comparatively worse off than others... well then, your inaction has made you comparatively worse off.
You can use that logic in stock portfolios, business strategies, or 'should i evacuate after the tsunami warning?'.