The dip in the market was not very large. It was just that his leverage was enormous. What was more shocking for him was that all their calculations gave the event a probability of 1 in 1,000,000,000,000,000,000,000,000 years. Henry called that a “ten sigma” event. The fact that Henry doubled the odds did not seem to matter. It made the probability 2 in 1,000,000,000,000,000,000,000,000 years.
