That leads to a second and more plausible explanation, which is psychological and behavioral in character. We have a tendency to underestimate both the probabilities and consequences of what in the investment world are called “left-tailed events.”
这引出了第二种、也是更具说服力的解释，这种解释从心理和行为入手。我们有低估投资界所谓的“左尾事件”的概率和后果的倾向。