Decade wreaking havoc on world economy

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The probability of another a global pandemic next decade wreaking havoc on the world economy and causing a one-day 20% loss in value of the entire US stock market is higher than the probability of a one-day 20% loss in value of the entire US stock market next decade. You can tell because the probability of a big loss given a pandemic is higher than the non-conditional probability of a big loss.

Reference no: EM133448824

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