The Value Perspective cover image

The Value Perspective with 10k Diver REPLAY

The Value Perspective

CHAPTER

The Importance of Probability in Probability

When making a decision, you don't really know what you will get at the end of it. So for example, Warren Buffett sold an airline stock in the beginning of the pandemic. He decided that he's going to sell all his airline stocks when the pandemic was just getting very severe. Now the question is, was that a good decision or a bad decision? And probability applies there because you could have a number of possible outcomes and you have to reason about them. The whole idea that you look at the current state of the world and try to predict whether some past action was a good decision has no basis in reality.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner