“A stochastic process is about the results of convolving probabilities-which is just what management is about, as well.” WellsProcessResultsManagementProbability Author:Anthony Stafford Beer
“First, the only certainty is that there is no certainty. Second, every decision, as a consequence, is a matter of weighing probabilities. Third, despite uncertainty we must decide and we must act. And lastly, we need to judge decisions not only on the results, but on how they were made.” NeedsFirstsMadeMatterDecisionResultsJudgingConsequenceThirdsDespiteCertaintyUncertaintyProbabilityWeighing Author:Robert Rubin
“Activity equals results. If you want to increase your success, increase your activity. Increase contact with customers. The more people you contact, the higher your sales will be because of the law of probabilities.” PeopleIfsWantLawResultsHigherActivityIncreaseCustomersContactProbability Author:Brian Tracy
“This branch of mathematics [Probability] is the only one, I believe, in which good writers frequently get results which are entirely erroneous.” BelieveI BelieveResultsMathematicsI Believe InBranchesProbabilityGood Writers Author:Charles Sanders Peirce
“Rather, risk is a perception in each investor's mind that results from analysis of the probability and amount of potential loss from an investment. If an exploratory oil well proves to be a dry hole, it is called risky. If a bond defaults or a stock plunges in price, they are called risky. But if the well is a gusher, the bond matures on schedule, and the stock rallies strongly, can we say they weren't risky when the investment after it is concluded than was known when it was made.” IfsMindWellsMadeLossResultsKnownRiskAmountProvePerceptionInvestmentInvestingOilHolesAnalysisDryInvestorsSchedulesProbabilityPlungeDefault Author:Seth Klarman