AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
1min snip
#92 Ed Thorp and Claude Shannon
Founders
John Kelly's Philosophy of Risk and Its Importance for Investors and Entrepreneurs
John Kelly's philosophy states that even unlikely events must occur eventually, advising against accepting small risks of losing everything. This philosophy highlights the sensitivity of compound return rates to unlikely events, referred to as fat tails. Many successful individuals including Buffett, Munger, and Thorpe, follow Kelly's criterion. Kelly's philosophy is crucial for investors and entrepreneurs as it distinguishes between those living in the real world of entrepreneurship and those in theoretical academia.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode