It depends on the cost of overconfidence. Nothing ventured, nothing gained. But if the expected cost of venturing wrongly is greater than the expected return, it’s better to be careful what you attempt. If the potential loss is great enough, cautiousness is a virtue. If there’s little investment to lose, cautiousness is a vice.
It depends on the cost of overconfidence. Nothing ventured, nothing gained. But if the expected cost of venturing wrongly is greater than the expected return, it’s better to be careful what you attempt. If the potential loss is great enough, cautiousness is a virtue. If there’s little investment to lose, cautiousness is a vice.
Right.