Take calculated risks from "summary" of The Psychology of Money - Gujarati Edition by મોર્ગન હાઉઝેલ
Taking calculated risks means understanding that investing always involves some level of uncertainty and risk. It's about recognizing that you can't predict the future with certainty, but you can make informed decisions based on the information available to you. When you take calculated risks, you weigh the potential rewards against the potential downsides. You don't take blind risks or gamble on speculative investments. Instead, you carefully assess the situation, consider the potential outcomes, and make a decision that aligns with your goals and risk tolerance. Taking calculated risks also involves diversifying your investments to spread out risk. By investing in a mix of assets, you can reduce the impact of any single investment performing poorly. Diversification helps you manage risk and increase t...
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