Volatility isn't risk. If I own a machine that legally prints a new hundred dollar bill for me every day, I might be able to sell it for a half million dollars

Volatility isn't risk. If I own a machine that legally prints a new hundred dollar bill for me every day, I might be able to sell it for a half million dollars most days. If one day I check the market and find that it's p crashed and magic hundred dollar bill printing machines are now selling for only $10,000, I haven't lost a penny. In fact I'm about to become much wealthier because I'm not selling, I'm just going to keep printing hundred dollar bills and buy more machines. Risk is when you overpay for an investment, or don't know how to value it, or are merely speculating. If you can't predict reasonably accurately the future cash flows of your investments, you are taking a lot of risk. Volatility is opportunity.