Warren Buffett Quotes About Probability

Quotes about: Probability

• Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.

  Warren Buffett

  Loss, Trying, Gains

• The approach and strategies are very similar in that you gather all the information you can and then keep adding to that base of information as things develop. You do whatever the probabilities indicated based on the knowledge that you have at that time, but you are always willing to modify your behaviour or your approach as you get new information. In bridge, you behave in a way that gets the best from your partner. And in business, you behave in the way that gets the best from your managers and your employees.

  Warren Buffett

  Bridges, Behaviour, Information

• Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.

  Warren Buffett

  Expectations, Results, Term

• We make investment decisions based on our evaluation of the most profitable combination of probabilities.

  Warren Buffett

  Decision, Evaluation, Investment

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