John D. Stoll wrote a Wall Street Journal article titled Hey CEOs, Have You Hugged the Uncertainty Monster Lately?
« Let’s consider for a moment that the Uncertainty Monster, as climate scientist Judith Curry refers to it, has proven to be as much of a friend as it is a foe. She argues that debates about the rate and cause of global warming can get so extreme and contentious that it creates indecision about how to address the problem. Instead of taking baby steps toward solutions, we let uncertainty paralyze us. »
« The same moral applies to broader business issues. You’ll miss a lot if you spend all your time focusing on the unknown. »
« Nicholas Bloom, a Stanford University economist… conducts regular studies published by the Atlanta Federal Reserve that track just how uncertain we are, and his World Uncertainty Index, developed for the International Monetary Fund, suggests we are suffering from near-historic heights of uncertainty. »
« Billionaire Warren Buffett addressed this in real time, telling his peers in his 2012 annual letter to quit whining. Withholding investment when confidence is shaky is a recipe for being underprepared when everyone’s confidence returns. »