John Kay & James Anderson | Investing & Radical Uncertainty
What implications does the concept of radical uncertainty pose for investors? Prof. Heather McGregor speaks to author & economist Prof. John Kay and Baillie Gifford Partner James Anderson to find out in an insightful discussion ranging from the practical to the philosophical.
Uncertainty in this context is a concept developed by John Maynard Keynes and Frank Knight, and refers to events that are by their nature unpredictable. It stands in contrast to risk, which refers to events that, while not certain, can be predicted with a given likelihood. An uncertain event oiled be a pandemic; we know there is a chance that one might occur, but when, where and how seriously is impossible to assign a certain probability to.
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