Ep. 113: Risk, The Unexpected and Black Swans with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Consequences in Decision Making
The idea that we can calculate probabilities begin with Pascal 1654. Pascal was a French mathematician in the 17th century, a compulsive gambler. The moral of this story is that there are many cases where we make choices of decisions where the consequences matter more than the probabilities. If I lead a bad life of sin and lust and then I die and there is a God on a big trouble,.
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