Decisions are not made by "gambling"!

Lina 2022-12-29 13:49:29

If the consequences of a strategy are not grasped as comprehensively as possible before, and effective methods are not formulated for the possible consequences, people will change from active to passive in this game. For those companies that have a major relationship and have a wide range of consequences, such as AIG, these big players in the bull market may become cancer when the bear market comes. Although they know that their operation or structure is unreasonable, they are involved The area is too large, and it has to be relieved.
The game is a macro-level thing, and it affects the whole body. Everything is full of people's imagination and unknown. How can we make us, like the Ministry of Finance staff in the play, actively organize our thoughts and actively when we encounter a complex and messy thing. Thinking about solutions is what we need to learn.
Relying on "gambling" to make decisions, and if you make a wrong bet, you will break the pot. This is a stupid thing that many people have been doing. The consequences of such an approach are basically to go further and further down the wrong path. Because he won't look back to see how all this happened.
One is to prevent problems before they happen, and the other is to actively think about strategies when faced with problems. These two things are what we need to learn to do.

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Extended Reading

Too Big to Fail quotes

  • Richard Fuld: [on the housing crisis] You know, people act like we're crack dealers. Nobody put a gun to anybody's head and said, "Hey, nimrod, buy a house you can't afford, and you know what? While you're at it, put a line of credit on that baby and buy yourself a boat."

    Joe Gregory: [chuckles] You heard anything from Buffett?

    Erin Callan: He's asking for preferred shares at 40, with a dividend of nine percent.

    Richard Fuld: [annoyed] We were just at 66. What the fuck?

    Joe Gregory: Maybe it's just an opening gambit, Dick.

    Richard Fuld: Sounds more like a goddamn insult!

    Erin Callan: Dick, we're at 36 right now. We haven't been anywhere near 66 in months. The markets like Buffett. His name will push the price up overnight.

    Richard Fuld: You know, I don't care who he is. I am not spending $360 million a year for the pleasure of doing business with him. Real estate will come back.

    Joe Gregory: Koreans have been sniffing around.

    Richard Fuld: There you go. And they won't steal us blind. I've seen this before: CEOs panic and they sell out cheap. Right now, the Street's running around with its hair on fire, but the storm always passes. We stand strong, and on the other side, we'll eat Goldman's lunch.

    Erin Callan: So what do we do about Buffett?

    Richard Fuld: Screw Warren Buffett.

  • Ben Bernanke: [Having breakfast with Henry Paulson] Lehman's down another 10%.

    Henry Paulson: You are not gonna let me get down a single bite, are you?

    Ben Bernanke: This is why I have oatmeal.