Risky Business with Nate Silver and Maria Konnikova cover image

Taking Risks in Business, Poker, and Life (with Bill Perkins)

Risky Business with Nate Silver and Maria Konnikova

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Embrace Inflection Points for Strategic Gains

In the face of variance, individuals must seek out volume to mitigate risk. Opportunities arise from significant inflection points, such as financial crises or geopolitical events, which allow informed decision-making based on unique insights rather than repetitive situations. It's crucial to differentiate between the narrative and the setup; while specific events won't recur, similar risk-reward scenarios will emerge. Acknowledging the probability and expected outcomes enables leveraging law of large numbers within these setups, positioning individuals to capitalize on trends without relying on past narratives.

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