alt Hacker NewsIsn't this just picking up pennies on an active railroad track? You'll win small bets and then get run over once a long tail event completely wipes you out.
Replies
_3u10 • today at 6:58 PM
If you bet it all on one event yes, otherwise long tail just loses your bet. Downside risk is limited to your bet.
I don't think the author is trying to pretend this is some sophisticated strategy you should actually use (note the chudjak in the image on github)