I’m going to come back to this because I think it’s an important point that you’re missing from the article. I mentioned 4 attributes of an investment strategy

I’m going to come back to this because I think it’s an important point that you’re missing from the article. I mentioned 4 attributes of an investment strategy (each of which we could dig into in incredible detail). You’ve taken 1 and gone “well if we squint at it you do that in a ponzu scheme too”. Which is exactly the point the article is making - if you decide to completely ignore the facts that distinguish these things then yes, yes they are exactly the same. It reminds me of the Reddit debate about whether a hot pocket is a ravioli or a sandwich - it’s a fun mental game to abstract away definitions until you get unexpected results, but it’s also kind of stupid.