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Get a cup of coffee.
In this thread, I'll walk you through "Gambler's Ruin".
This is a classic exercise in probability theory.
But going beyond the math, this exercise can teach us a lot about life, business, and investing.
Edward O. Thorp, A Man for All Markets — Beating Blackjack and Roulette, Beating the Stock Market, Spotting Bernie Madoff Early, and Knowing When Enough Is Enough (#596) https://t.co/UXwu7N0Cs0
Part 2 w/@tferriss How to Think for Yourself, A Real Estate Cautionary Tale, Hedge Fund History & Warnings, The Incredible Power of Basic Numeracy (and How to Develop It), Thought Experiments on Risk, Popular Delusions, Cryptocurrencies, & More (#604)
https://t.co/u1EydAn5R4
Congratulations to all the #Chainlink Hackathon winners and thanks to everyone who participated. It's great to see so many great teams build entirely new solutions to existing problems in our own industry, and to create entirely new use cases that will take crypto to new heights.
China’s property market is in its worst slump since the 1990s, but infrastructure investment and automaking have offset much of the hit to steel demand.#chartoftheweek
"Courage is not the absence of fear. It's when you're scared, but you do it anyway."
We don’t fear big goals, we fear failing them.
But failure isn’t fatal.
Instead, reframe it, use fear as a roadmap for the actions you need to take to achieve the life you want.
I’ve run 5 ultra-marathons.
The secret to persistence is to destroy the quitter’s mind.
Here are 8 ideas from Naval Ravikant on building mental toughness and resilience:
Current thoughts on crypto markets:
TLDR; controlled aggression in this environment will be the path to generational wealth creation over the next 3 to 5 years.
A short 🧵
Despite drawing, USA dominated most of the game against Wales with an interesting tactical approach both in and out of possession. #USAvWAL
4-3-3 high press with wingers guiding inside, Sargent staying deeper, 8s man-marking and reacting well if the ball reaches the wing:
At the mtg, Biden/Xi shld identify another opp to meet, appoint entrusted/empowered officials to continue the dialogue, part of a longer-term effort to establish more robust comms mechanisms to manage areas of incr friction & risk. me & @nathaniel_sher
https://t.co/UMSN1hldCJ
https://t.co/7gKK4Pbsha
Các vấn đề về Đài Loan, Hạt nhân nếu Putin có dùng và Triều Tiên thỉnh thoảng quậy. Còn lại các vấn đề khác không có ý nghĩa gì.
Xi/CCP now making post-20th Party Congress adjustments to both property and covid policies in part given how important economic growth is for China to be able to effectively compete with the US. Excellent story by @Lingling_Wei and @WSJ colleagues. https://t.co/PkXsnZNMGr
Biden, Xi to revive 11-year relationship at Bali summit
1/ Few world leaders have spent as much one-on-one time with Xi Jinping as Joe Biden. When Biden visited China in 2011, he had five meetings with Xi over six days.
https://t.co/x8poNTkTac
Data at https://t.co/dUh5MC3R20 updated and remain to be accurate up until Christmas. Graphs below show attack and defence quality in Premier League. Defensively Arsenal is ALREADY at Man City level