Quote of the day from Barry Ritholtz :
"We never really know what the source of a good outcome is; however, we have a high degree of confidence what the probabilities are for a good process. A strong process is a guarantee — not of outcome or results, but of the highest probability of obtaining desired results.1"
Good process correlates to good results where the outcome that we see in the headlines or paper could be absolute dumb luck.
"We never really know what the source of a good outcome is; however, we have a high degree of confidence what the probabilities are for a good process. A strong process is a guarantee — not of outcome or results, but of the highest probability of obtaining desired results.1"
Good process correlates to good results where the outcome that we see in the headlines or paper could be absolute dumb luck.
