One important measurement issue concerns the fat tails problem that I mentioned earlier. VAR is concerned with extreme outcomes. If the tails of the probability distributions we are using are too thin, our VAR measures are likely to be too low.
Everyone talks about VAR, which is great. It will help the referees no end. But if you've got VAR in place and VAR becomes the ref, I'm not sure that's good for the game.
There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk.
You size up someone physically in less than one second - too tall, too short, too fat, too thin, too old, too young, too stuffy, too scruffy.
For the record, someone will ALWAYS say that you are too big, too thin, too lean, too fat, too whatever. In my opinion, they are too conceited to think that their opinion is going to change our behavior. A person with confidence won't be deterred! Keep after it!
I was too old, too young, too fat, too thin, too tall, too short, too blond, too dark - but at some point, they're going to need the other. So I'd get really good at being the other.
I always said that VAR is a very important tool on objective and important decisions.
Too fat, too thin, too loud, too quiet - I was never going to fit the standards others created for me. Instead of complying, I protested.
It seems like people are more likely to tell you you've gotten too thin than to tell you you've gotten too fat.
It was our use of probability theory as logic that has enabled us to do so easily what was impossible for those who thought of probability as a physical phenomenon associated with "randomness". Quite the opposite; we have thought of probability distributions as carriers of information.
The ultimate compound return rate is acutely sensitive to fat tails.
Without the heroic, man has no meaning; without the economic, he has no sense. Economic man is most likely to be economic woman - a good wife, pulling the coat tails of her heroic husband, checking his extravagances of speech and action with words of caution and good sense. But without the heroic coat tails to pull, life for both of them would be dull and savorless indeed.
I like fat girls. A woman can never be too poor or too fat. I'd take a poor fat girl over a rich thin girl like Kate Moss.
If a coin comes down heads, that means that the possibility of its coming down tails has collapsed. Until that moment the two possibilities were equal. But on another world, it does come down tails. And when that happens, the two worlds split apart.
There are a lot of people out there who are just bullies. They constantly keep telling you that you are too fat, too thin, your teeth are not fine, you can't speak English really well, and you are too short, etc.
Clearly, I'm for the VAR.
Don't let anyone tell you that you're not good enough. Don't let anyone tell you that you're too short, you're too fat, you're too thin, you're too ugly - that's nonsense.