assign10 - To play these type hands can be very risky but...

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Vincent Salazar Econ 212 Ganderton November 29, 2007 Assignment 10 One of the topics that I found the most interesting was the lecture on risk and risk management. Until this class I have had no experience with investing so pretty much every topic covered was new to me. The lecture on risk was particularly interesting to me personally because I have been able to apply parts of it such as Expected Value to my everyday life. For example one of my hobbies is playing poker I play in weekly games and online, understanding expected value and expected return has helped me to improve my gambling skills. Every card in a deck has an expected value and based on that value an expected return. This value is different for every player but until this lecture I never thought to map out my expected values. Another great thing about this lecture was variance. To me I consider high variance poker hands to be unsuited low and not connecting.
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Unformatted text preview: To play these type hands can be very risky but at times the return can be huge a smart man once said “don’t be afraid to go out on a limb because that is where the fruit is”. High variance can be high reward, and this lecture helped me to understand this. The other topic that I really enjoyed was the lecture on social security. I have always heard that social security would be in trouble by the time I was ready to retire but I never understood why. I would have never guessed that it was because of different fertility rates. Also that lecture inspired me to invest in a 401K, I know that I should have been doing that for years now but, until I understood how social security really worked I never felt the need. I was also surprised to hear that everybody gets social security even Bill Gates. Overall I thought this was a fascinating and very informative lecture....
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