Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses cover image

There Is No Such Thing As Medium Risk - Audio Essay

Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses

CHAPTER

How Much Does It Matter?

In any business relationship you enter into, there's the cost and a range of potential rewards. Each of us has some risks that are bigger than others and some that matter more than others. The point is to try to create more upside variants every day. Warren Buffett described his decision-making process as "taking the probability of loss times the amount of possible loss"

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