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14min chapter
Luca Dellanna on his book Ergodicity, autism, and decision making in our brains.
The Education of a Value Investor
The Concept of Ergodicity and Decision Making
This chapter explores the concept of ergodicity and its implications for decision making. It discusses how irreversible losses can impact future gains, using examples of a skier's chance of winning and breaking their leg. The chapter emphasizes the importance of recognizing long-term incentives and not solely focusing on short-term goals.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode