The term "100-year flood" is often misunderstood - many believe it means a flood that happens once every 100 years, but that’s not how probability works. Instead, it refers to a flood that has a 1% ...

The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.

Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas' experience gives him expertise in a ...

Many people mix up odds and probability at casino tables. These words sound the same but mean different things. Knowing both ...