Luca Dellanna on his book Ergodicity, autism, and decision making in our brains.
The Education of a Value Investor
The Pressure to Take Hidden Risks
The chapter explores the pressure investors feel to take hidden risks in order to succeed, highlighting that not all fund closures indicate failure. It also discusses the tension between short-term strategies and long-term risk accumulation, using the analogy of a skier winning a race but unable to reset and explore different paths. The chapter touches on ergodicity, averages, and the concept of luck in investing.
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