#57 How To Be Smarter About Risk: Karen Firestone
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This show may very well save you money, boost your career and help you make smarter decisions. \\xa0
It\'s about risk. \\xa0 Our guest is Karen Firestone - author of the new book \\u201cEven The Odds - Sensible Risk Taking in Business Investing and Life." \\xa0She is President and CEO, of Aureus Asset Management, an asset management firm she cofounded after 22 years as a fund manager and research analyst at Fidelity Investments. Karen is\\xa0a contributor to the Harvard Business Review blog. \\xa0 "I think that sensible risk taking is something that we should all think more about," says Karen. She argues that most of us are too\\xa0gullible. \\xa0"It\'s more fun to be enthusiastic and positive about the outcome of something that involves some risk than be pessimistic and skeptical." \\xa0 Karen shares her personal stories and knowledge about investments, starting a firm, changing careers, surviving in the workplace and raising kids. \\xa0 \\xa0 Karen\'s four principles of risk taking: \\xa0- Right-sizing. Consider how big the risk is before you commit to a decision.\\xa0
- Right timing. Is this the right time to change your lifestyle or career?\\xa0 For instance, don\'t open an ice-cream shop in November!
- Relying on knowledge and experience. Know as much as you can about the risk you are taking.
- Remaining skeptical about promises and projections. "If you show up at a blackjack table and you don\'t know how to play, you are going to be out of money in five minutes."
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