Convexity
Because of the quirks of our human eagerness for the immediate reward, we are forewarned that what seems easy and straightforward is deceptively so; the roundabout is in practice a counterintuitive path — of acquiring later stage advantage. - Mark Spitznagel; The Dao Of Capital: Austrian Investing in a Distorted World It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. - Henry Ford The smart investor looks for opportunities to acquire value on the cheap, with one eye out for a dynamic change in the offing that might make that investment even more valuable. - Jim Rogers, Hot Commodities: How Anyone Can Invest Profitably in the World’s Best Market Are you on the right Path in Life? How would you know if your country, industry or company was sound based upon solvency vs liquidity? Is it ok to speak of physics vs ideology? Thoughts of a past coach who spent qualit...
