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Bob Gonzales's avatar

After reading Ur note, I gave the following a thought.

I’ve been at this public/private investing since ‘87 &, have passed the baton over to my Son. Early on, I defined risk as “if you can’t sleep well” it was too much risk. The other component was whatever was committed to a private business opportunity or, public market investment “ could the family nonetheless survive at least another year if the transaction blew up into a complete loss.

So many books & intellectual mathematical models never came close to these two basic simple rules of investing & defining risk.

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Charles Cohen's avatar

1. " It is always a mistake to need markets to perform in a certain way in the short-run."

+1. Anyone in that position has made a strategic (or tactical) mistake.

2. I've noticed lots of TV ads for new brokerage interfaces -- for "beginning investors" -- that emphasize "easy to use" as a feature. You've reinforced my half-formed thought:

. . . "Easy to use" isn't a feature -- it's a bug!

. charles

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