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Strictly wrong: - a casino is a random game - stock market is a game of incomplete informatoin The one cant related to the other by whatever equation.
by KellyCriterion 9mo ago
Strictly wrong:
- a casino is a random game
- stock market is a game of incomplete informatoin
The one cant related to the other by whatever equation.
- gosub100 9mo agoThe series of a shuffle of a 6-deck shoe is not "incomplete information"?
- mikrl 9mo agoTaleb calls it the Ludic Fallacy (game fallacy) The statistics of games are understandable, defined and easy to work with. The statistics of markets, as Soros spent his career investigating, are filled with feedback loops, and as Taleb investigated, fat tails.