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All of life is the management of risk, not its elimination.

Walter Wriston

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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Elimination
Management
Risk
Life

More quotes by Walter Wriston

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Failure is not a crime. Failure to learn from failure is.
Walter Wriston
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Risk is not a dirty word.
Walter Wriston
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Banking is a branch of the information business.
Walter Wriston
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The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.
Walter Wriston
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All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says.
Walter Wriston
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The greatest testimony to the human spirit that I'm witnessing now is the fact that people still come back to work, after all that has been done to them. They are still willing to participate for a more positive future if they would be sincerely invited.
Walter Wriston
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Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.
Walter Wriston
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If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.
Walter Wriston
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Rising prices or wages do not cause inflation they only report it. They represent an essential form of economic speech, sincemoney isjust another form of information.
Walter Wriston
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I walk into all these organizations, and I'm always puzzled when I realize that people still want to be there. Most people really want to love their organizations. We need that level of commitment ... Yet organizations have done very little to deserve that kind of staying-power.
Walter Wriston
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Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
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Countries don't go out of business....The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don’t go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company.
Walter Wriston
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The guy with the competitive advantage is the one with the best technology.
Walter Wriston
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We're not in cultures which support learning we're in cultures that give us the message consistently: Don't mess up, don't make mistakes, don't make the boss look bad, don't give us any surprises. So we're asking for a kind of predictability, control, respect, and compliance that has nothing to do with learning.
Walter Wriston
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The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
Walter Wriston
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Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
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A truly global economy, as opposed to the multinational economy of the recent past, will require concessions of national power ... that seemed impossible a few years ago and which even now we can but partly imagine.
Walter Wriston
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As long as capital-both human and money-can move toward opportunity, trade will not balance.
Walter Wriston
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The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
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Human capital will go where it is wanted, and it will stay where it is well treated. It cannot be driven it can only be attracted.
Walter Wriston