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The point is that shaw understands how much luck plays a role in everything that happens. (This is why most of the money in his firm in treasury bills, and even
by streetcat1 7y ago
The point is that shaw understands how much luck plays a role in everything that happens. (This is why most of the money in his firm in treasury bills, and even those are disrupted by negative interest rate).
He is extremely risk-averse, even with all of his money.
Hence, if you judge his action trough the lanes of risk minimization, it will all make sense.
- tasuki 7y ago> He is extremely risk-averse, even with all of his money. Perhaps he's extremely risk-averse _because_ he has all this money. Making more money would not have much impact on his life, while losing it would make a significant difference.
- blueblimp 7y agoThat's what struck me from the article. So much risk aversion! And why not? If you have billions, what's a million here and there to guard against potential roadblocks?