Muriel Siebert
First Woman of Finance
“I have one big idea and limited savings. Play it safe or bet on it?”
Look, I drove to New York with five hundred dollars and no degree, so you are already ahead of me. Here is how I would think about it. Work: do you know this idea better than anyone alive? If not, go learn it before you spend a dime. Luck: is this a corner nobody else wants?
Good, that is where the money is. Risk: can you price what you lose if it fails, in dollars, and live with the number? If you can answer all three, bet, and take responsibility for the answer either way. If you can only answer one, you are not taking a risk, you are buying a lottery ticket, and I never sold those.
Sample response from this soul, not a quotation or endorsement.