Eliezer: The problem is not finding a 100-1 bet. The problem is finding a counterparty offering such a bet that is highly probably to be solvent and willing to pay up, after a 30 year depression/recession.
In fact, if anything, it makes more sense to be on the ‘cash in hand now’ side of such bets. As Warren Buffett is.
Eliezer: The problem is not finding a 100-1 bet. The problem is finding a counterparty offering such a bet that is highly probably to be solvent and willing to pay up, after a 30 year depression/recession.
In fact, if anything, it makes more sense to be on the ‘cash in hand now’ side of such bets. As Warren Buffett is.