“The person with the most flexibility has the best chance of achieving the outcome he or she desires” PersonsDesireChanceAchieveAchievementOutcomesFlexibility Book:Life Is a Series of Presentations: Eight Ways to Inspire, Inform, and Influence Anyone, Anywhere, Anytime Source: Life Is a Series of Presentations: Eight Ways to Inspire, Inform, and Influence Anyone, Anywhere, Anytime
“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.” MatterCoursesProcessChanceAttentionOutcomes Author:Michael Mauboussin
“Life is full of chances -- and those times when we each trust our own guts and have a terrific outcome reaffirms our ability to make good decisions.” Life IsChanceAbilityDecisionOutcomesGutsTerrificGood Decision Author:Victoria Laurie
“People would be a lot more skeptical if they understood that there is an incredible amount of chance in the results that you observe for active managers. So the distribution of outcomes is enormously wide - but that's exactly what you'd expect by chance with lots of active managers who hold imperfectly diversified portfolios. The really good portfolios contain a lot of really lucky picks, and the really bad portfolios contain a lot of really unlucky picks as well as some really bad ones.” PeopleIfsWellsWould BeChanceResultsAmountLuckyPicksUnderstoodIncrediblesInvestingActiveWideManagersOutcomesDistributionSkepticalUnluckyPortfolios Author:Eugene Fama
“The difficulty in judging what type of behavior works well arises not only because a given course of action does not always produce the outcomes. Similar outcomes can occur for reasons other than the person's actions, which further complicates inferential judgment. Effects that arise independently of one's actions distort the influence of similar effects produced by the actions, but only on some occasions. Given a strong cognitive set to perceive regularities, even chance joint occurrences of events can be easily misjudged as genuine relationships of low contingent probability” WellsPersonsDoeReasonActionCoursesStrongGivenChanceInfluenceEffectsEventsProduceJudgingTypeBehaviorJudgmentLowsDifficultyGenuineAriseOccasionsPerceiveOutcomesProbabilityJointsCognitiveRegularitySelf Efficacy Author:Albert Bandura
“I've done films about games. What I like with games is that there is this uncertain outcome and the element of chance.” DoneFilmGamesChanceElementsOutcomesUncertain Author:Jørgen Leth