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The Insight: Conversations – Special Episode with Annie Duke and Howard Marks

The Memo by Howard Marks

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Assessing Expected Value and Risk

This chapter explores the importance of intellectual humility, risk management, and bet sizing in decision-making, highlighting the limitations of relying solely on expected outcomes. It also discusses the concept of risk of ruin, the significance of converting opinions into actual bets, and the need for correct pricing to make informed and successful bets.

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