Decision making Quote by Michael Lewis
““They would learn to evaluate a decision not by its outcomes--whether it turned out to be right or wrong--but by the process that led to it. The job of the decision maker wasn't to be right but to figure out the odds in any decision and play them well.””
About This Quote
Source Book: The Big Short, 2010
Decision quality should be judged by process, not just outcomes; focus on odds and sound reasoning
In simple terms: Evaluate decisions by process, not result
Key Takeaway
Focus on process, not just outcome
Themes
decision-making
process
probability
Mood
analytical
pragmatic
Type
educational
philosophical
When to use this quote
- investment
- project planning
- policy design
- personal choices
Key Concepts
risk analysis
strategic thinking
Questions to Reflect On
- How do you assess decision quality?
- What tools help evaluate odds?
A Different Perspective
Outcomes still matter for accountability; process can be opaque
![“Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.” quote by Michael Lewis](https://sms4smile.com/quotes/img-quotes/a59/michael-lewis-705_decision-making_crucial-decisions-are-made-today-as-thou_16888.jpg)
