Someone turned 80k into like 1.2 million betting on Tesla calls or something and hedged with a Kamala win bet it was like 50k tesla/30k Kamala and they turned it into 1.2 million via Tesla somehow

Is it like

  • bet 1/2 on unlikely thing
  • bet 1/2 on likely thing
  • rely on gains on either side averaging out to at least ++
    • degen@midwest.socialEnglish
      0·
      7 months ago

      It’s not so much about estimating odds as it is limiting the potential downside. Hedging is the rational part of things lol

      • cheese_greater@lemmy.worldOP
        0·
        7 months ago

        Can you give me a really classic and rational/prototypical example or hedging? Like is it be stretegically cynical/ Thinking in Bets?