Also, anybody with a basic understanding of probability can prove mistakes are unlikely to even themselves out.

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Understanding the probability for success and knowing what a fair payout is are critical when playing the lottery or selecting mutual funds.

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In this we see the genius of the entire book: Silver is able to appeal to those who are both mathematically and non-mathematically inclined, building a compelling story as to why both types of reader should be interested in the better quantification and understanding of the probability of the events that surround us every day.

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Our takeaway in understanding this filing is that Mr. Icahn has used options to give himself a high probability of owning a lot of stock.

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