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#4 Jason Zweig: Elevate Your Financial IQ
The Knowledge Project with Shane Parrish
Defining Risk
Risk can be defined as the chance of not knowing what you are doing, leading to unexpected losses, the probability of an adverse outcome, or the extent to which extreme outcomes differ from the average. It has also been described as the gap between what investors think they know and what they end up learning about their investments, the financial markets, and themselves. In essence, risk is the difference between perceived knowledge and eventual truth.
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