Hedge Your Bets Quotes

Mom had always taught all of us to examine decisions by reversibility--that is, to hedge our bets. When you couldn't decide between two things, she suggested you choose the one that allowed you to change course if necessary. Not the road less traveled but the road with the exit ramp.

Control was just wishful thinking, and you controlled things to hedge your bets, to be safe, to guard against loss.

He doesn't believe the dead need our prayers, nor can they use them. But anyone who knows the Bible as he does, knows that our God is a capricious God, and there's no harm in hedging your bets.

What if you quit making excuses, quit playing it safe, and quit hedging your bets?

He said Catholics probably had an advantage, you could hedge your bets right until you were dying.

Love anything . . . and your heart will be wrung. The more you succeed at love—the more you will have to lose. But honestly, would playing it safe and hedging your bets take you any place you really wanted to be? And as painful as love can be, could wisdom be won by any other means?

Hedging your bets frees you up to play.

He doesn't believe the dead need our prayers, nor can they use them. But anyone who know the Bible as he does, knows that our God is a capricious God, and there's no harm in hedging your bets.

Nice is akin to not walking under ladders or stepping on cracks. It’s a superstitious hedging of bets. A part of you thinks your good behavior will ward off evil. Well, apparently that’s not true.

To combat the sin of self-sufficiency, we need a special kind of faith. It's what I call Starbucks Rest Room Faith. Almost every Starbucks store has a sensor that controls the light in the rest room. You can't just flip a switch, and you can't make it go on by just waving your arm inside the door. You have to put your whole body into that dark room and trust that the light will come on as you enter. Faith in God is a lot like that. He doesn't offer a safety net, He doesn't let us hedge our bets, and He doesn't give any guaranteed results ahead of time. We have to be all in before the light comes on.

The “German problem” after 1970 became how to keep up with the Germans in terms of efficiency and productivity. One way, as above, was to serially devalue, but that was beginning to hurt. The other way was to tie your currency to the deutsche mark and thereby make your price and inflation rate the same as the Germans, which it turned out would also hurt, but in a different way. The problem with keeping up with the Germans is that German industrial exports have the lowest price elasticities in the world. In plain English, Germany makes really great stuff that everyone wants and will pay more for in comparison to all the alternatives. So when you tie your currency to the deutsche mark, you are making a one-way bet that your industry can be as competitive as the Germans in terms of quality and price. That would be difficult enough if the deutsche mark hadn’t been undervalued for most of the postwar period and both German labor costs and inflation rates were lower than average, but unfortunately for everyone else, they were. That gave the German economy the advantage in producing less-than-great stuff too, thereby undercutting competitors in products lower down, as well as higher up the value-added chain. Add to this contemporary German wages, which have seen real declines over the 2000s, and you have an economy that is extremely hard to keep up with. On the other side of this one-way bet were the financial markets. They looked at less dynamic economies, such as the United Kingdom and Italy, that were tying themselves to the deutsche mark and saw a way to make money. The only way to maintain a currency peg is to either defend it with foreign exchange reserves or deflate your wages and prices to accommodate it. To defend a peg you need lots of foreign currency so that when your currency loses value (as it will if you are trying to keep up with the Germans), you can sell your foreign currency reserves and buy back your own currency to maintain the desired rate. But if the markets can figure out how much foreign currency you have in reserve, they can bet against you, force a devaluation of your currency, and pocket the difference between the peg and the new market value in a short sale. George Soros (and a lot of other hedge funds) famously did this to the European Exchange Rate Mechanism in 1992, blowing the United Kingdom and Italy out of the system. Soros could do this because he knew that there was no way the United Kingdom or Italy could be as competitive as Germany without serious price deflation to increase cost competitiveness, and that there would be only so much deflation and unemployment these countries could take before they either ran out of foreign exchange reserves or lost the next election. Indeed, the European Exchange Rate Mechanism was sometimes referred to as the European “Eternal Recession Mechanism,” such was its deflationary impact. In short, attempts to maintain an anti-inflationary currency peg fail because they are not credible on the following point: you cannot run a gold standard (where the only way to adjust is through internal deflation) in a democracy.

While we might not all be able to take a year off work, the question that haunts me is, do I trust God enough to do it? Do I think he’d actually take care of me if I did it? Isn’t that what most of our activity and busyness is about anyway? Trying to hedge our bets, saying we are Christians with our lips, but living as spiritual orphans who need to claw and grasp for every last crumb of provision. Do we actually believe God will provide? That he can be trusted?

We found ourselves discussing the three kinds of fateful choices that exist in the two books: the ones characters make knowing that they can never be undone; the ones they make thinking they can but learn they can’t; and the ones they make thinking they can’t and only later come to understand, when it’s too late, when “nothing can be undone,” that they could have. Mom had always taught all of us to examine decisions by reversibility—that is, to hedge our bets. When you couldn’t decide between two things, she suggested you choose the one that allowed you to change course if necessary. Not the road less traveled but the road with the exit ramp.

Bringing back the Golden Fleece,” I repeated, mocking him. “As if it exists.” Castor frowned. “What’s biting you? Of course it exists! We told you what Jason said. It belonged to a marvelous ram sent by the gods to rescue two royal children, Phrixus and Helle, from their murderous stepmother. A pity it wasn’t a perfect rescue. Phrixus reached Colchis safely, but his sister, Helle, fell off in mid-flight and drowned. Jason says that’s why the place where she plunged into the sea’s called the Hellespont. If that doesn’t prove the story’s true, what will satisfy you?” “Anyone can give a place a name,” I said, rolling my eyes. “When I get home, I’ll name that olive grove near our training ground Wolf Forest and see what happens. A ram with a fleece of real gold, a flying ram that could carry the children through the skies to Colchis, where there are dragons, oh yes, that’s believable! That’s worth risking your lives for on a voyage across the world! I’ll bet you don’t care if that story’s true or not. You just want an excuse to go off chasing fame!” Polydeuces set a honey cake on my already heaping plate. “There must be something waiting for us in Colchis, little sister,” he said gently. “Maybe not the gold fleece of a flying ram, but something. Why would Jason go to the trouble and expense of outfitting a ship for such a long, dangerous voyage otherwise?” He smiled wistfully and added, “You mustn’t worry about us. We’ll come back; we’ll be fine.” He was right: I was worried about what would become of my brothers on that great adventure. But more than that, I envied them with all my heart. So what if the goal of their expedition was the phantom fleece of a ram that never existed? The fascinating lands my brothers would see and the exploits they’d share would be real enough. And I’d be left behind. They’ll see marvels I can’t being to imagine, I thought. Maybe they’ll even see that old sailor’s five-legged monster! Meanwhile, I’m going to be trundled home in an oxcart so thickly hedged around by Spartan soldiers that all I’ll see during my journey will be spears. It’s not fair! I can handle a sword almost as well as either of them, and I know I’m better with a bow and arrow!

Don’t hedge bets with your life, Kaladin, Durk had always said. Don’t put in a chip when you have a pocket full of marks. Bet them all or leave the table.

Be wary of people who use terms such as timing the market, day trading, hedging your bet, and investment opportunity!

Mom had always taught all of us to examine decisions by reversibility—that is, to hedge our bets. When you couldn’t decide between two things, she suggested you choose the one that allowed you to change course if necessary. Not the road less traveled

Mom had always taught all of us to examine decisions by reversibility—that is, to hedge our bets. When you couldn’t decide between two things, she suggested you choose the one that allowed you to change course if necessary. Not the road less traveled but the road with the exit ramp.

sometimes you have only one momento to get it right and the thing is, you don't always know the momento when it arrives. There's no ticking clock or game show host waiting for your answer; there's no audience watching, hedging bets on what you'll do; in real life the momento suddenly presents itself and either you make the right choice or you blow it.

I ran into a friend of Lisa’s today,” he told her, enjoying the way Lisa’s eyes got big and she started trying to communicate with him by way of frantic facial expressions behind her mother-in-law’s back. “Emma Shaw.” “Emma Shaw…Oh! The one who does the landscaping, right?” Lisa nodded. “She’s such a nice girl, but I haven’t seen her in ages. Not since I ran into you two at the mall and overheard you talking about her engagement. How are she and her fiancé doing?” Lisa opened her mouth, but closed it again when Sean folded his arms and looked at her, waiting to see how—or even if—she was going to get out of the conversation without lying outright to Aunt Mary. “I…think they’re having some problems,” she finally said. Nice hedge, but an understatement. “Oh, that’s too bad. What’s her fiancé’s name? I meant to ask that day, but you started talking about some shoe sale and I forgot.” It was a few seconds before Lisa sighed in defeat. “Sean.” “Isn’t that funny,” Mary said, smiling at him before turning back to her daughter-in-law. “What’s his last name? Maybe I know his family.” That was a pretty safe bet.

That hedge provides almost complete privacy from cars and pedestrians, and I would bet he and his wife do it more than the national average.

When playing a bear market, the same rules hold: You want to diversify your risks, especially knowing that collapses move even faster than rallies. You need to decide how much safe cash or near cash you want to hold to sleep at night and to handle financial emergencies, like the loss of your job or your house. Then decide how much to put into longer-term high-quality bonds, like those 30-year Treasuries and AAA corporates, but I think it’s still premature to make this move at the time of this writing, in August 2017. Then decide how much you want to put into a dollar bull fund or the ETF UUP, which tracks the U.S. dollar versus its six major trading partners. If you’re willing to risk part of your wealth, you can also bet on financial assets going down—from stocks to gold. Stocks are the one type of financial asset that goes down in either a deflationary crisis, like the 1930s, or an inflationary one, like the 1970s. So shorting stocks is the best way to prosper in the downturn, either way. But don’t leverage this bet. The markets are simply too volatile. You can short the stock market with no leverage by simply buying an ETF (exchange-traded fund) like the ProShares Short S&P 500 (NYSEArca: SH). It’s an inverse fund on the S&P 500, so if the index goes down 50 percent, you make 50 percent. The ProShares Ultrashort (NYSEArca: QID) is double short the NASDAQ 100, which is likely to get hit the worst. If you make this play, just do a half share, to avoid that two-times leverage (hold the other half in cash or short-term bonds). Direxion Daily Small Cap Bear 3X ETF (NYSEArca: TZA) is triple short the Russell 2000, which is also likely to lead on the way down. So buy only a one-third share of this one, to remain without leverage. (That means the money you allocate here should be one-third in TZA and two-thirds in cash, to offset the leverage.) And unlike the gold bugs, I see gold collapsing. It’s an inflation hedge, not a deflation hedge. If gold rallies back as high as $1,425—on my predicted bear-market rally—then it could easily drop to around $700 within a year. Your last decision is whether to risk some of your funds betting on gold’s downside, for the greatest potential returns. You can buy DB Gold Double Short ETN (NYSEArca: DZZ)—double short gold—at a half share, to offset the leverage, or just simply short GLD, the ETF that follows gold. There you have it. How to handle the coming crash.

Mom had always taught all of us to examine decisions by reversibility—that is, to hedge our bets. When you couldn’t decide between two things, she suggested you choose the one that allowed you to change course if necessary.

I guess you always regret the choices you didn’t make, because you imagine that they would have been better choices, that’s the thing. But in the end, you just have to choose something and get on with it. Because if you hedge your bets forever, well, you end up with nothing, don’t you?

If you were to enter a shrubbery in a horticultural society gardening contest and wished to wager on the outcome as to the winner, would you bet your hedge?

An agile mindset incorporates incremental change over big risky moves. The agile careerist hedges her bets by exploring the landscape on the side, while holding down a job and pulling in the steady paycheck.

Sure, my projects have to make me money, but I’m always hedging my bets. I’m preparing for success and failure.

Karen thinks you’re crazy.” A gust of wind hits my windows, a total whiteout of snow coming with it. “That sounds like an opinion, not a fact.” And that’s exactly what it is, the opinion of an RN against the complete psychological evaluation I lied my way through to even get onto the donor wait list. So I’ll hedge my bets waiting to see what happens first—an official diagnosis or the death of someone with an O neg heart. Someone who could be out there driving right now, in this snowstorm. Or shitstorm. Or perfect storm. In my lap, I cross my fingers.