4min chapter

The Knowledge Project with Shane Parrish cover image

#69 Stephen Schwarzman: What It Takes

The Knowledge Project with Shane Parrish

CHAPTER

The Most Important Decision Isn't Lose Money

i realized i wasn't some kind of investment genius. And so i realized the best way, i thought, to make decisions was to get all the partners together around a table when any proposal comes in. They write it up, they come back, they send us the stuff in writing, you know, hopefully two days before we have a meeting,. and nobody has a to blow something by us with flip charts or anything like that. So if you lose a lot of money, then have to have a really great deal next to make it up. You're better off never losing and then if you have the same upside somebody else does, then you do much better overtime.

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