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Black Swans, Stock Market Crashes and the Chaos Kings
The Compound and Friends
The Importance of Dark Pools and Quants in Writing Chaos Kings
The big takeaway is it's easy to overestimate your risk tolerance, especially in a bull market. All of the mistakes are made when the fat tails happen and they happen way more than they should mathematically. Not overestimating your ability to stomach a 25% drawdown in five days is probably the right posture for most investors.
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Listen to the best highlights from the podcasts you love and dive into the full episode