I especially like the part about error in vale because we compare to the past not the future.

And, of course, the last Q in the Q& A at the end.

also- like th part about how to value
(probability of occurance) * (value of that occurance) = expected value

Think about it in terms of longevity. If I expect to live to 80 yrs old, I may treat risk now at 40-something one way. The value of the less than 40years being one thing.

But since I expect to live to 150yrs old - I treat risk very differently. I got 100 years + to go and the value of that is clearly different than 40 years to go.

Thanks for this. I watched the entire video, and suspect I am now better prepared for speculating and decision making.