{3:48 minutes to read} Today, we are talking about the concept of risk. Risk can be divided into 2 general concepts; one is gambling, and one is a calculated risk.
The word gamble means “take risky action in the hope of a desired result.” It is like a higher level of risk. When you’re gambling, you’re going purely on instinct, which is why you never hear the term “calculated gambling.”
A calculated risk, on the other hand, is where the advantages and disadvantages of the proposed deal have been carefully weighed and considered. Chances of loss are slim and, therefore, acceptable.
