My explanation is better:
There’s three doors, of which one is the winner.
First, pick a door to exclude. You have a 66% chance of correctly excluding a non-winning door.
Next, Monty excludes a non- winning door with certainty.
Finally, open the remaining door and take the prize!
This is a common argument in our house.
It’s not so much about profiting from the situation but maximising your options.
You don’t want to cash in your 401k and buy gold, but if you have some investments then buying physical gold with 5% or 10% is not a terrible idea.
In a holocaust type situation an ounce of gold in the right palm at the right time could buy passage for an entire family.
We may not have the gold standard anymore but I can assure you that gold remains a stable store of wealth.
It’s also not going to be easier to buy.
Banks are much more reluctant to loan, jobs are harder to keep.
Yeah.
There’s waaay worse things you can catch.