Quote of the day by Edward Thorp: "I think that we only get estimates of the distributions and that we can only be somewhat sure of the estimates. That makes the problems in the financial world much more difficult, I think, because you have these uncertainties in the distributions."

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• Economic TimesLean R·1h ago

  Quote of the day by Edward Thorp: "I think that we only get estimates of the distributions and that we can only be somewhat sure of the estimates. That makes the problems in the financial world much more difficult, I think, because you have these uncertainties in the distributions."

  Edward Thorp emphasizes that financial markets rely on uncertain probability estimates rather than certainties. Since models struggle with unexpected events, investors must prioritize risk management, diversification, and resilience instead of overconfidence in their forecasts.

  Read at Economic Times →