Sublime
An inspiration engine for ideas
Even if their forecasts were true (they aren’t), no individual can get the same returns as the market unless he has infinite pockets and no uncle points. This is conflating ensemble probability and time probability. If the investor has to eventually reduce his exposure because of losses, or because of retirement, or because he got divorced to marry
... See moreNassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
As John Maynard Keynes said, “The market can stay irrational longer than you can stay solvent.”
Nate Silver • The Signal and the Noise: Why So Many Predictions Fail-but Some Don't
Leadership in The Ownership Economy—Scaling Decision Making while Minimizing Securities Risk – Variant
Jesse Waldenvariant.fund
‘asset-liability management’
Brett Scott • Heretic's Guide to Global Finance: Hacking the Future of Money
assessments.principles.com.
Ray Dalio • Principles: Life and Work
A few quotes...
“Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios which frequently appear downright imprudent in the eyes of conventional wisdom.”
“Memory – and the resulting prudence – always comes out the loser when pitted against greed.”
“Pro-cyclical behavio... See more