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Cake day: August 25th, 2025

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  • This is a good insight that has wide application. For example in the context of investing: every portfolio is always fully invested, even 100% cash which runs the risk of not meeting the investor’s goals.

    However it’s not always true in all contexts. For example in formal games, there may be a no-risk path to victory for you, where every move can be dominant. In this sense there is no risk in taking those dominant moves to win the game.