Drilling Down - Perceiving the Risk of Stock Picking - NYTimes.com

Drilling Down - Perceiving the Risk of Stock Picking - NYTimes.com: "Consider a stock that picks up 10 cents on even days of the month and loses that much on odd days. Now imagine, instead, a stock that picks up value until the midpoint of the month, and then sinks until the endpoint. Both stocks offer the same monthly and yearly return. But investors will tend to regard the first stock as safer