sizing is how much of your capital you put in any single bet. It's not which assets to hold — it's how much. A great idea with 100% of your capital is a single point of...
The core idea
sizing is how much of your capital you put in any single bet. It's not which assets to hold — it's how much. A great idea with 100% of your capital is a single point of...
Connected
Barbell Strategy
at extremes of safety and risk, avoid the mediocre middle.
Circle of Competence
have an edge in some domains and not others — and the boundary between the two i
Discounted Cash Flow
equals future cash flows discounted to present value.
Margin of Safety
below intrinsic value to protect against errors and the unforeseen.
Arbitrage
is profiting from a price difference for the same or equivalent asset across mar
Asymmetric Upside
upside is a payoff structure where the best-case gain is large relative to the w