I still have a problem with the basic way in which risk is discussed in relation to financial speculation. In terms of their combined probabilities, if we take the speculation of all the bigtime financial speculators, they would not make big net gains if there was a greater chance of loss than gain. So, most of the "speculation" must not be _risking_ money, but rather putting it on a "sure thing". Well, up until the latest big losses.
Charles _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
