"...there are three distinct sides of risk:* The odds you will get hit.* The average consequences of getting hit.* The tail-end consequences of getting hit. ...tail-end consequences – the low-probability, high-impact events – are all that matter.In investing, the average consequences of risk make up most of the daily news headlines. But the tail-end consequences … Continue reading Tail-End Consequences
Tag: consequences
Noticing Consequences
"For the record, the degree of conscious intent of any behavior is a mildly interesting facet, but I’m less interested in it than are most. This is in part because I’m inclined to give people less of a moral or legal pass on the harms resulting from their behaviors if they did not consciously intend … Continue reading Noticing Consequences
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