Unfortunately, it is not possible to make oneself permanently secure by any policy of inaction whatever. The idea which some people seem to entertain that an active policy involves taking more risks than an inactive policy is exactly the opposite of the truth. The inactive investor who takes up an obstinate attitude about his holdings and refuses to change his opinion merely because facts and circumstances have changed is the one who in the long run comes to grievous loss.
When the Facts Change, I Change My Mind. What Do You Do, Sir?
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Well when events change, I change my mind. What do you do?
ー Paul Samuelson
When my information changes, I change my mind. What do you do?
ー Paul Samuelson
When my information changes, I alter my conclusions. What do you do, sir?
ー Paul Samuelson
When I find new information I change my mind; What do you do?
ー James S. Earley
When I’m wrong, I change my mind. What do you do?
ー Lindley H. Clark Jr.
When someone persuades me that I am wrong, I change my mind. What do you do?
ー Joan Robinson
When the facts change, I change my mind. What do you do, madam?
ー Winston Churchill