Mihir Desai Quotes

ruthlessly look forward and ignore the past and present in deciding what value is and what actions to undertake. Your previous accomplishments and missed opportunities mean nothing when looking at yourself today.

Finance's starting point in valuation is that previous accomplishments and what you have today bear little relationship to real value. Finance is completely and ruthlessly forward-looking. The only source of value today is the future.

We should experience as much as possible—just as insurance companies must—in order to make good decisions and understand the world with the right probabilities.

John Henry Newman put it more than 150 years ago, “the general principles of any study you may learn by books at home; but the detail, the color, the tone, the air, the life which makes it live in us, you must catch all these from those in whom it lives already.

With well-defined losses and no set ceiling on the upside,

She seems to have understood that risk management is not a goal in and of itself—but rather a set of strategies to ensure that one can take the big bets one needs to take to truly create value.

Organizations that stigmatize failure actually tend to repeat failures rather than learn from them.