Room For Error - Deepstash
Room For Error

Room For Error

The most important part of every plan is planning on your plan not going according to plan.

The odds are in your favor when playing Rusian Roulette. But the downside is not worth the potential upside.

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ideallyadarsh

An ordinary boy who is indiscriminately passionate about many things, develops the frontend of websites, a graphics designer, a bibliophile, Loves to learn and grow, and write. | In search of infinity!

This book is one of the best books for the financial knowledge you'll read among the others. Get to know the real Psychology of Money by reading this.

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Leave Room for Error

Leave Room for Error

The most important part of every plan is planning on your plan, not going according to plan.

Have room for error when estimating your future returns. For his own investments, Housel assumes the future returns he’ll earn in his lifetime will be ⅓ lower than the historic aver...

ROOM FOR ERROR IS UNDERAPPRECIATED AND MISUNDERSTOODD

It’s usually viewed as a conservative hedge, used by those who don’t want to take much risk. But when used appropriately it’s the opposite. Room for error lets you stick around long enough to let the odds of benefiting from a low-probability outcome fall in your favor.

Investment Related

Investment Related

  • Have a six month emergency fund and save 10% of your salary.
  • The ability to stick around for a long time, without wiping or being forced to give up is what makes the biggest difference.
  • Your success as an investor will be determined by how you respond to punctuated moments of...

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