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#32: Christopher Cole On Appreciating Risk
Superinvestors and the Art of Worldly Wisdom
The Metaphor of Volatility
The idea that the treatment of addiction, for example, requires kind of a brutal assessment of ones of the reality of one situation and to embrace volatility so that you can cure yourself. Marriage therapists observe the couples that are at the biggest risk of a divorce are the ones that aren't fighting with each other. The trading philosophy of anyone who's a successful long volatility trader bears many of these same philosophies in trying to understand when a system is near a breaking point.
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