Mahboob's Journal

Existential Thoughts, Experiential Inferences and Occasional Whacky Connections


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A Philosophy To Live By
mahboob

I think I am noticing a lot more absolutism than what I can accept. This, on TV and in newspapers. People don't use qualifiers or disclaimers. Nor do they back up their statements with enough data.

Here's an excerpt from Robert Rubin's In An Uncertain World (pg 7), which for me is a philosophy to live by:
 

What has guided my career in both business and government is my fundamental view that nothing is provably certain. One corollary of this view is probabilistic decision making. Probabilistic thinking isn’t just an intellectual construct for me, but a habit and a discipline deeply rooted in my psyche. I first developed this intellectual construct in the skeptical environment of Harvard College in the late 1950s, in part because of a year-long course that almost led me to major in philosophy. I started to employ probabilistic decision making in practice at Goldman Sachs, where I spent my career before entering government. As an arbitrage trader, I’d learned that as good as an investment prospect might look, nothing was ever a sure thing. Success came by evaluating all the information available to try to judge the odds of various outcomes and the possible gains or losses associated with each. My life on Wall Street was based on probabilistic decisions I made on a daily basis. 

By the way, here's another quote why I post entries like this:

"When I quote others I do so in order to express my own ideas more clearly." - Michel de Montaigne


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I’ve meant to post about something like this on my webpage and you gave me an idea. Cheers.

Thank you, nice job! This was the stuff I had to have.

Ah!!! at last I found what I was looking for. Somtimes it takes so much effort to find even tiny useful piece of information.

This is a fantastic view of the situation, I don’t think I’ve quite seen it from that perspective before.

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