I remember reading something about LTCM not in the wrong. They are simply unlucky people as for example there may be a 1% chance losing 100 billion and 99% chance earning 50 billion but they are just unlucky that the 1% unfortunate event happens.
Anyone read anything like this before? Just want to clarify as I find this concept very interesting.
Anyone read anything like this before? Just want to clarify as I find this concept very interesting.