Richard de Crespigny

Identify, rate, and live with it.

You have to take risk, but you take intelligent risks.

All risks have a mitigation in case they don't work.

You've got to back up.

If you take a risk without a mitigation, without any backup, that's called a gamble.

And if you take a gamble that might kill you, then you're probably going to die, right?

So a gamble is putting all of your life savings on red at a casino where you might lose it all.

And it's surprising how many people don't understand risk and gambling and things like that.

We must take risks, but do intelligent risks.

And you...

Knowledgeable risks.

You make decisions, and I'm sure you look at the tennis players.

The difference between Roger Federer and Nadal in a game is almost negligible.

It might be 49% great shots to 51%.

and they're managing their risk even if they're going down they say all right yes i'm losing the game but i've got to keep playing the way i can i just there's nothing wrong with it i just have to persist and be patient they have to understand the risks and and keep the game plan so um yes you have to understand the threats and measure the risk and then work with the risk if you don't

If you just work with threats, then you are fearful, right?

Because a mouse might scare you because that scares women.

Going flying might scare you because some people die.

But if you can take that threat and now move it into probability and consequence, you measure the risk.

you'd realize, well, the mice don't kill any people, so ignore that.