3 ms·
Yep. As a HF mentor used to tell me - Wealth buys optionality. Variance is the outcome.
by puppymaster 4y ago
Yep. As a HF mentor used to tell me - Wealth buys optionality. Variance is the outcome.
- maxbond 4y agoI agree wealth buys optionality, but regarding variance wouldn't that imply wealthy people have better and worse outcomes than nonwealthy people, who would have consistently middling outcomes? That doesn't really match my observations.
- inconceivable 4y agowealthy people don't talk about the massive losses, only their massive gains.
- maxbond 4y agoMassive on an absolute basis? Sure. Is Bill Hwang going to live the rest of his life in poverty after losing billions? I doubt that very much. (Perhaps a poor example, seems like Hwang is facing charges.) Not really something I'm interested in having an extensive debate about though. The reason I asked is I suspect the metaphor means something different from how I've interpreted it.