3 ms·
Rules of thumb can be applied without thinking to control both chance of failure and chance of a crazy success.
by mwerty 19y ago
Rules of thumb can be applied without thinking to control both chance of failure and chance of a crazy success.
- timr 19y agoYes, but that's the point. These types of risks are always brilliant when you win, and stupid when you lose. Articles like this one teach you little, other than the value of good luck, and great timing. (also, for the record: I agree wholeheartedly with the spirit of his investments; I'm a housing bear too. But I'm also realistic enough to know that he got lucky, using a decidedly risky investment strategy. With hundreds of millions of dollars short in an admittedly irrational market, one bad month of excessively irrational market behavior could have wiped him out.)