A Stoic mindset towards risk is particularly valuable. It involves visualising the worst-case scenario and planning accordingly. Pursue ambitious outcomes, but never without a fallback plan. Equally important is understanding your own risk appetite. Betting too aggressively early on can shorten your journey, whereas staying in the game by making correct bet sizing and consistent, rational decisions is what creates long-term success. And remember, stories of huge wins are only the visible tip of the iceberg. Survivorship bias hides the much larger number of investors who failed. Sensible, methodical decisions – rather than sensational ones - are the foundation of sustainable wealth. Final thoughts Risk and uncertainty are unavoidable in every investment, but confusing the two is where real damage happens. Great investors and business builders aren’t those who try to predict the future with certainty, but those who devise plans that can absorb shocks and adapt to the unexpected. Control will always be limited, but through thoughtful calibration, emotional discipline and strategic preparation, risk can be turned into opportunity, and uncertainty into an advantage. That’s what separates gamblers from great operators: not the ability to predict the future, but the discipline to prepare for it. Understanding Risk and Uncertainty: Common Investment Mistakes
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