It’s one of those phrases I just kinda nod my head and go “yeah” when I hear it. I’ve looked it up before, but the definition never stuck. Same thing happened with “survivorship bias,” but I eventually figured that one out.
I guess I need it explained in a different way for it to stick.
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Two things that cannot be true at the same time. You can only have one or the other but not both. They’re mutually exclusive, mutual in this case denoting a pair that are bound by something in common, which is exclusivity. Basically two things that are exclusive, so you can only have one of the two. The mutual part is the fact that it’s these two particular things that negate one another and not something else.
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