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4min chapter
Taking Risks in Business, Poker, and Life (with Bill Perkins)
Risky Business with Nate Silver and Maria Konnikova
Understanding Risk and Variance in Decision-Making
This chapter examines the interplay between risk and variance in decision-making, particularly in gambling contexts. It introduces the Kelly criterion as a mathematical method for managing bets and highlights the significance of long-term strategies over immediate outcomes.
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