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Old 16-11-2011, 02:43 PM
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Quote:
Originally Posted by Hermit View Post
Finally we have someone here who stayed awake during Probability 101 class.
getting a job gives you a high probability of earning a mediocre income. go get a job.

but i wouldn't mind investing a little bit in a low-probability event that may give a high return. e.g. start a business on the side. i believe if you keep trying, lady luck will come.

the usual probability "experts" aren't rich people you know.

it's the _unusual_ probability experts, people who truly understand luck and probability, who will get abnormal returns. examples of these true experts:
Edward Thorp
Claude Shannon
Nassim Taleb
(they are highly intelligent, extremely well-versed in probability, AND they have exploited probability to be very rich)

btw, the putting-hand-in-a-blender example is truly the stupidest counter argument i've heard. only people who are at the probability-101 level can give such lousy examples.

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