Risk Savvy: How to Make Good Decisions by Gerd Gigerenzer. First, a little excerpt from capitalideasonline and then a little on the book.
In a wonderful book, “Risk Savvy: How to Make Good Decisions“, the author, Gerd Gigerenzer , writes on the three “faces” of probability.
Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More
“Probability is not one of a kind; it was born with three faces: frequency, physical design, and degrees of belief. And these have persisted to this day.
Frequency. In the first of i