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Investors must be willing to take calculated risks to achieve financial success from "summary" of Against the Gods by Peter L. Bernstein
The idea that investors must be willing to take calculated risks in order to achieve financial success is a foundational principle in the world of finance. This concept is not about blindly gambling with one's money, but rather about carefully weighing the potential rewards against the potential risks before making an investment decision. It acknowledges the inherent uncertainty of the future and the fact that no investment is ever completely risk-free. Taking calculated risks involves conducting thorough research and analysis to understand the potential risks and rewards of a particular investment. It requires investors to consider a wide range of fact...
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