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Step 8: Riskese

Step 8: Riskese

“The most important questions of life are, for the most part, really only problems of probability.” – Marquis de Laplace, Théorie Analytique des Probabilités, 1814

“The average long-term experience in investing is never surprising, but the short-term experience is always surprising. We now know to focus not on rate of return, but on the informed management of risk.” – Charles Ellis, Ph.D., Investment Policy, 1985

“If your broker [or investment advisor] is not familiar with the concept of standard deviation of returns, get a new one.” – William Bernstein, Ph.D., M.D., The Intelligent Asset Allocator, 2000

“Odds are you don’t know what the odds are.” – Gary Belsky and Thomas Gilovich, Why Smart People Make Big Money Mistakes, 2000

“The probable is what usually happens.” – Aristotle

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