Joel-Oskar

65%
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stay with simple propositions — that we usually apply in investments as well as operations. If only one variable is key to a decision, and the variable has a 90% chance of going your way, the chance for a successful outcome is obviously 90%. But if ten independent variables need to break favorably for a successful result, and each has a 90% probability of success, the likelihood of having a winner is only 35%.
Berkshire Hathaway Letters to Shareholders: 1965-2024
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