Bill Perkins is Not Afraid
Risk of Ruin
00:00
How Much Should You Bet?
The Amaranth story reminds me of the phrase attributed to Wyatt Earp that goes, the less you bet, the more you lose when you win. What Amaranth did was he severely misjudged liquidity when he was wrong and the costs to get in and out. That's an age-old question that you have to get.
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