Available Quote by William Poundstone

The engine driving the Kelly system is the "law of large numbers." In a 1713 treatise on probability, Swiss mathematician Jakob Bernoulli propounded a…

— William Poundstone

A speculator gambles that a stock will go up in price because somebody else will pay even more for it.

— Benjamin Graham

“When everybody thinks the same thing—such as what a sure bet the Nifty 50 is—it is almost certainly reflected in the price, and betting…

— Ray Dalio

We have a swarm of people in the stock market - not out of knowledge, not out of expectation, but out of basically a…

— John Kenneth Galbraith

Our subjective judgment of what seems like a good bet is irrelevant to what is actually a good bet.

— Richard Dawkins

“Fortune-telling was quantum betting, a competitive scrying of variably likely outcomes.”

— China Miéville

Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.

— Charlie Munger

“Richard Thaler tells of a discussion about decision making he had with the top managers of the 25 divisions of a large company. He…

— Daniel Kahneman

The traditional thinking has been that the stock market likes certainty.

— Maria Bartiromo

The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of…

— Charlie Munger

There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game…

— Daniel Kahneman

“There is always opportunity cost in choosing one path over others. The betting elements of decisions—choice, probability, risk, etc.—are more obvious in some situations…

— Annie Duke