3min chapter

Risk of Ruin cover image

A Family Business

Risk of Ruin

CHAPTER

Taking Big Swings Will Just Be a Part of Your Life

Jim and Dan have a unique attitude towards risk and variance. They weren't used to losing because of the types of bets they were making. If you think you have a small edge, then yes, it's easy to lose. But if your estimated edge is big and you're losing, then the data is not matching the hypothesis.

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