Sublime

And let’s say he still went on to earn the extraordinary annual investment returns he’s been able to generate (22% annually), but quit investing and retired at age 60 to play golf and spend time with his grandkids. What would a rough estimate of his net worth be today? Not $84.5 billion. $11.9 million. 99.9% less than his actual net worth.

Erik Seidel, for whom the challenge of poker is slightly different. For over three decades, he has led the poker world. He holds eight WSOP bracelets (only five players in the tournament’s history have more) and a World Poker Tour title. He is in the Poker Hall of Fame, one of just thirty-two living members. He boasts the fourth-highest tournament

“In finance, you always have to have an alternative,” Byers said. “Otherwise, you’re sure to be eaten alive.” “Even with a blue-chip company like AT&T?” “With any large company. That’s why I recommend that you look into a Reg D with a retail investment bank.” “What’s a Reg D?” “Regulation D allows you to sell stock to individual investors of hi

The essence of Brandt’s strategy is to risk very little on any given trade and to restrict trades to those he believes offer a reasonable potential for an objective that is three to four times the magnitude of his risk.

Making a handful of good uncorrelated bets that are balanced and leveraged well is the surest way of having a lot of upside without being exposed to unacceptable downside.