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Do you invest 0.1% of your wealth in things you considered to have 0.5-5% chance of happening? I don't. And I have a rather clear example in mind, something I d
by 1996 7y ago
Do you invest 0.1% of your wealth in things you considered to have 0.5-5% chance of happening? I don't. And I have a rather clear example in mind, something I do consider at a 5% risk and yet refuse to bother about.
I don't, because it's not just the amount of wealth, but the consequences, and the complexities it creates by snowball effect.
I don't want to talk about my stuff, but let's talk about their escape plans, as I can easily imagine how it would require some similar planning.
These properties in NZ will require upkeep. It will keep their mind thinking about that too. It will also cause other slight increases in costs (the example of getting into a plane: add the costs of a 24/7 on-call flight team + a spare plane in case the first one has some unexpected failure)
Even if they have someone whose job 24/7 is to take care of that, they may want to visit the NZ properties time to time, to make sure things are proceeding according to plan. Because you can't trust people for something as important as that.
And their mind will incorporate these limits into whatever other calculations. For example, a juicy business deal in Europe? A concert or a conference where they can physically meet with some key person? Sorry but they shouldn't go to that conference as it may be too far from NZ in a catastrophic scenario, with the airspace closed, if they don't have another plane+team in Europe too. What's another 0.1%? Sure, add this plane and team in Europe. Then you need a manager, a company, etc. Then you want to have that on every continent. Then you think, what if disaster strikes in APAC? Might as well get started buying other properties in Chile!
I guess it may be fun for preppers, but when you reevaluate the practical consequences, you come to the conclusion some things are better left undone, to have razor sharp focus on the things you want done.
Simplicy has many virtues, especially in planning. Burning some ships is not just an exercise in removing concentration - it also increases focus.
- ajross 7y ago> Do you invest 0.1% of your wealth in things you considered to have 0.5-5% chance of happening? I don't. Powerball and Mega Millions seem like an existence proof to the contrary. I'm won't argue the upthread point that such an investment is logical, but it's not senseless either. "Prepper enclaves as scratch tickets for billionaires" sounds about right to me.