MichaelGR comments on Rationality Quotes November 2011 - Less Wrong

6 Post author: Jayson_Virissimo 01 November 2011 06:28PM

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Comment author: MichaelGR 06 November 2011 05:23:05PM 8 points [-]

The correctness of a decision can’t be judged from the outcome. Nevertheless, that’s how people assess it. A good decision is one that’s optimal at the time it’s made, when the future is by definition unknown. Thus, correct decisions are often unsuccessful, and vice versa.

--Howard Marks, The Most Important Thing p.136 (about investing, but applies to other things)