Mental Models
Risk, Uncertainty, and Ignorance
In life, you rarely deal with situations which are purely risky. Learning to deal with the unknown is more important.
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In life, you rarely deal with situations which are purely risky. Learning to deal with the unknown is more important.
Here are two mental models that explain the nature of the stock market.
While commonly used in the world of betting and finance, the Kelly criterion is poorly understood.
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