Charlie Munger: Turning $2M Into $2T

Re:Charlie Munger: Turning $2M Into $2T by sdfghswe on Wednesday September 20, 2023 @02:06PM (#37587620)

> Problem is flipping the coin 20 times. I don’t think even 1 in 100 million would do that.

2^20 = 1048576

So roughly 1 in 1 million.

You're off by 100x.

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Re:Charlie Munger: Turning $2M Into $2T by EddTheSDET on Wednesday September 20, 2023 @02:11PM (#37587694)

I believe OP is talking about the human emotion of flipping that coin the 19th time (or indeed the 18th, or 17th...). While the math might be as simple as doubling x times it's very different to actually do it!

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Re:Charlie Munger: Turning $2M Into $2T by sdfghswe on Wednesday September 20, 2023 @02:37PM (#37588095)

Are you forced to bet everything on every flip?

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Re:Charlie Munger: Turning $2M Into $2T by sokoloff on Wednesday September 20, 2023 @02:50PM (#37588334)

If your goal is to double your money on each successful flip (as implied in [0]), then yes.

[0] https://news.ycombinator.com/item?id=37586995

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Re:Charlie Munger: Turning $2M Into $2T by AdamN on Wednesday September 20, 2023 @02:53PM (#37588385)

I think that's the implication: https://en.wikipedia.org/wiki/St._Petersburg_paradox https://en.wikipedia.org/wiki/Martingale_(betting_system)

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Re:Charlie Munger: Turning $2M Into $2T by brigadier132 on Wednesday September 20, 2023 @03:13PM (#37588676)

That's where skill comes in and invalidates the point that it's all luck.

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