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The legendary Babe Ruth hit 714 home runs and struck out 1,330 times in his career—setting single-season records for both in his time.
Why? Because players who get on base are, by definition, in the game and have a chance to score. Swinging for a home run often means that the player strikes out completely.
Because if you chase high returns, which come with high risks, there is a good chance that you could lose your capital and be completely out of the game.
The Regret Minimization Framework: How Jeff Bezos Made Decisions.
As Bezos puts it:
I knew that when I was 80 I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not ever having tried.
Swing For The Fences
