Five ways we can better take and manage risk.
Topics covered include:
- How likely is it that China will invade Taiwan and the stock market will fall 80%
- Why experts tend to be humble and don't make specific predictions
- What is the difference between risk and uncertainty, and between loss capacity and loss aversion
- What factors impact our degree of loss aversion and loss tolerance
- Why the economy needs more risk takers rather than rentiers
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