I think the barbell is more evenly balanced when you look at expected value / return. 7%*90 (left) vs 100%*10 (right)
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I think fat tailed distributions often have infinite means and standard deviations. Unclear what the meaning of expected value is in that world?
Kraj razgovora
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Also - cool illustrations! How did you do those?
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ipad and apple pencil :)
Kraj razgovora
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Question: did you ever figure out what he means by "conservative". Is it fdic guaranteed conservative or are bonds also considered conservative?
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He doesn't specify, but I think one way to look at it is: it should be so conservative that you're getting horrible returns on it. And simple enough that you can understand it.
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Thanks for the explainer
after reading this I can't think of any other model that makes any sense in the presence of black swans.Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Čini se da učitavanje traje već neko vrijeme.
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