What does the saying "throwing good money after bad" mean?
The proverb "throwing good money after bad" is a cautionary phrase used to advise against investing more resources into a venture that is already failing. It implies that continuing to pour resources into a losing proposition is foolish and unlikely to yield a positive outcome.
The saying originated in the world of gambling, where players would often chase their losses by doubling down on their bets. However, this strategy rarely works, as it increases the potential for even greater financial ruin.
In business and finance, the same principle applies. If an investment is not performing well, it is generally unwise to throw good money after bad. Instead, it is usually better to cut your losses and redirect your resources to more promising opportunities.
However, there may be exceptions to this rule. If you have strong reason to believe that the investment will eventually turn around, it may be worth it to continue investing. But it is important to be realistic about the chances of success and to manage your risk carefully.
Related Questions and Answers
- What is the origin of the saying "throwing good money after bad"? It originated in the world of gambling.
- When should you avoid throwing good money after bad? When an investment is not performing well and is unlikely to yield a positive outcome.
- Are there any exceptions to the rule? It may be worth it to continue investing if you have strong reason to believe that the investment will eventually turn around.
- What is a good alternative to throwing good money after bad? Cutting your losses and redirecting your resources to more promising opportunities.
- What is the moral of the saying? Don't invest more resources into a venture that is already failing.
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