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In a way this is like waiting for a good black swan event to happen. It is going to happen and it will be great, but do you have enough money to play long enoug
by ajmurmann 11y ago
In a way this is like waiting for a good black swan event to happen. It is going to happen and it will be great, but do you have enough money to play long enough till it happens? I think we don't play this kind of game for the same reason we are bad preparing for black swan events. If I spent huge amounts of money on preparing for a black swan disaster that might happen chances are still high that I will only get theoretical benefits from the investment and nothing ever happens during my lifetime. Similarly here, I statistically win, but in practice I have a high chance of running either out of money or out of time, because I don't have infinite of those, even if the imaginary casino had infinite money.
- pixl97 11y ago> It is going to happen and it will be great, but do you have enough money to play long enough till it happens? I think this can also be said as "The market can remain irrational longer than you can remain solvent".