Possessing a tangible asset or a certainty, even if small, is often preferable to the risk of pursuing a larger, but uncertain, gain. This concept highlights the value of security and the potential pitfalls of speculation. For example, accepting a guaranteed, lower-paying job may be wiser than gambling on a higher-paying position that is contingent on uncertain factors.
The principle underscores the importance of risk aversion and the psychological comfort derived from knowing what one has. Historically, this concept has guided financial decisions and investment strategies, emphasizing prudence and the avoidance of excessive risk. It provides a framework for evaluating opportunities by weighing potential rewards against the probability of success.
