
74 - From FIRE to PCR w Karsten Jeske aka Big ERN
The Trade Busters
00:00
Understanding Probability: Traffic Jams and Financial Stability
This chapter explores the complexities of risk assessment through the analogy of traffic jams, critiquing traditional financial studies like the Trinity study. It emphasizes the importance of understanding conditional probabilities to gain a more realistic perspective on financial stability and forecasting.
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