Rocket Man
Risk of Ruin
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The Importance of Risk Adjustment in a Great Opportunity
The last week of the deal offered lower gross returns, but because there was such a mountain of evidence that the deal was set to close, that week might have been the best time in terms of risk adjustment. There's a problem in opportunities that grow and shrink organically that most great opportunities before becoming great were already good. It's very hard to be underexposed to spectacular opportunities unless you coincidentally came to it then. But yeah, it wasn't something I was super worried about, just because I thought the chances were so good.
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