Risk Schmisk - Annie Duke
Expected Value: Theoretical net positive or negative of a given event over time.
Volatility > Luck: How much variation there is around the expected value
Risk Management: How much should should be invested in an event proportional to the total assets you have to maximize the probability that you get the expected value while minimize the probability of going broke due to the volatility.
Risk Schmisk: The biggest risk is thinking you have winning strategy when you have a losing strategy.