Another month, another rationality quotes thread. The rules are:
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No, not usually, at least for common to me values of "extremely" :-) Finance does not require you to select high-variance bets :-)
True, but if your actual outcomes are "extremely noisy" you need better risk management which happens to be part of finance.
What's noisy is the information you get rapidly, not necessarily the outcomes. If you (stupidly, of course) buy and short-sell the same amount of some asset, your outcome is noiseless but the information you get from watching what actually happens to the asset is still noisy.