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Risk 101 and my new $500 Million Fortune- Goodbye Work! March 29, 2012

Posted by Chris Mark in Risk & Risk Management.
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I have written a number of posts on risk and probability in the past.  You can read them here.  As I was on the phone with a good friend last night talking about buying our Mega Millions lottery tickets for the very first time, I was struck by how amusing the whole situation was. My wife and I were talking with our friends about a strategy to buy lottery tickets.   I was talking about buying lottery tickets for the very first time!  First, they don’t sell MegaMillions in Utah, and I have never played the lottery.  Why? I recognize that the chances of winning are infinitesimally small. (~1 in 176 million)  So what changed last night?

The MegaMillions lottery approached $500 million for the jackpot!  Can you believe it?  I am going to be $500 million richer in the next few days!  I just feel it.  I have the winning numbers! Odds be damned! Goodbye GlobalRiskInfo.com and hello life of luxury on my new super yacht Risky Business! (I even have it picked out and named) (more…)

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