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Investors don't work with perfect information. They work with imperfect information. This means that it is impossible to predict with certainty what will happen
by dabbernaught420 7y ago
Investors don't work with perfect information. They work with imperfect information. This means that it is impossible to predict with certainty what will happen.
So it's important to remember that an investor who passes on a product that goes on to become very successful may have actually made the best possible decision given the information that she had.
- deleted 7y ago[deleted]
- jdmichal 7y agoIt's exactly this. You have to judge a decision based on the merits of the decision, not on the outcome. A great example is poker. I should call an all-in on a hand I will win 95% of the time. I will still lose one in twenty times. That does not mean it was a bad decision.