Tuesday, June 05, 2007

Risk Taker

Once Onassis the Greek shipping tycoon made a peanut seller an offer. He grabbed a handful of peanuts and asked the seller to guess if the peanuts in his hand were odd numbered or even. If he guessed right Onassis would pay him a bundle otherwise he would take away his entire stock. The seller dismissed the offer. Onassis tried to convince him showing him a bundle of money that he would get if he guessed right. The seller dismissed him again. Onassis tried again pointing to his fancy car and yacht to prove that he is serious. The seller dismissed him yet again.

Onassis confronted the seller with his wasted opportunity: had he taken the risk and guessed he would either get it right and gain a bundle, or if he didn’t get it right it would be reasonable to conclude that a wealthy man such as Onassis wouldn’t really take away his stock. It was a win win situation only ruined by the seller’s failure to take the risk. I read this story a while ago in one of the daily newspapers -that are popping up everyday! So go ahead and be a risk taker!


Grey said...

I once did that , and ended up in bankruptcy . Risk taking is good provided there is thourough [market] research..
On the other side of it I hope he didn't marry Jacky Kennedy that way......

Touché said...

"I shall be telling this with a sigh,

Somewhere ages and ages hence:

Two roads diverged in a wood,

And I took the one less traveled by,

And that has made all the difference."

Robert Frost

1001 Nights said...

It’s one thing to take a calculated risk and it’s a whole other thing to be a gambler. The question I think is not whether or not to take risk but what it is you’re actually risking. Risking losing some money that was being spent on designer bags is one thing … risking losing money that you need for food & shelter (which I would assume the peanut seller would have lost) is just plain stupid.

I think the seller was wise regardless of the final effect. The get rich quick people just annoy me.

Bu Ziyad said...

wolf: if you first dont succeed try try again..

touche: nice poem thanks for sharing!

nights: you know my first reaction after i read the story was wow i would probably have done the same.. im glad im not the only one..

Anonymous said...

I really like your blog ...very interesting stuff...in regards to this blog...u know it seems like it woulda been a win win situation to onasis cuz he has nothing to loose...its soo easy for one to say take the risk when they have nothin to loose..but when the person doing it has everything to loose its not so easy...ofcourse if you dont take risks in life...you'll probably end up no where...so the question is really what risks do we take and what risks do we pass up ?

Bu Ziyad said...

thoughts: thanks for your thoughts :) you are right if we took risk randomly we'd wound up in a casino or playing the lottery.. its about taking calculated risk in things we are good at..