Ironically, when a bunch of very smart people are sitting around a table for hours trying to figure out whether they should do something, that tends to not necessarily lead to the best results.
Stephen A. SchwarzmanRead
I have a saying: There are no brave old people in finance. Because if you're brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you're still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments.
Interpretation
What this quote means
Caution and experience in finance lead to long-term success.
The quote emphasizes that true financial wisdom often comes from years of cautious decision-making rather than reckless bravery. It suggests that those who thrive in finance as they age have learned to navigate risks wisely, balancing between being conservative and aggressive based on their experiences.
Themes
FinanceWisdomExperienceRisk ManagementInvestments
In practice
Example use cases
During a seminar on investment strategies, this quote can illustrate the importance of careful decision-making over a long career.
More from Stephen A. Schwarzman
All quotes →I don't feel like a wealthy person. Other people think of me as a wealthy person, but I don't. I feel the same as when I was a fifth-year associate trying to make partner at Lehman Brothers. I haven't changed.
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Sometimes, success in life is knowing one's limitations.
Stephen A. SchwarzmanRead
The biggest mistake I've seen people make with their careers is, when they're good, after two or three years - and they happen to be smart - they announce that they're going out to start their own firm.
Stephen A. SchwarzmanRead
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