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Since those funds are underfunded, which is not the fault of those managers, wouldn't not playing VC with the funds simply turn bad odds of maintaining their li
by candiodari 4y ago
Since those funds are underfunded, which is not the fault of those managers, wouldn't not playing VC with the funds simply turn bad odds of maintaining their lifestyle into guaranteed failure?
- singron 4y agoIf this was insurance, where you accept a negative EV transaction to eliminate a catastrophic outcome, the you could make that argument. If your retirement fund was 20% smaller than you wanted, would you spend it all on lottery tickets so that there is a possibility it would be the right size?
- candiodari 4y agoIf the result is only coming in 10 years, and you're 5 years away from retirement, sure, why not? I mean, assuming it's not too obvious. https://en.wikipedia.org/wiki/Apr%C3%A8s_moi,_le_d%C3%A9luge https://en.wikipedia.org/wiki/Apr%C3%A8s_moi,_le_d%C3%A9luge But I don't think that's what's happening here.