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The Kelly Formula for Position Size
I'm glad you brought up position size because it's something I've been thinking a lot about recently. Your own mental outlook and a margin of safety is now then the biggest determinant of success. People have an incredible difficulty in doubling down and success. So from my perspective, like when we're initiating a position early on, degrees of freedom matter more than anything else.
In today’s episode, Trey Lockerbie sits down with Chamath Palihapitiya. Chamath is the founder and CEO of Social Capital, his conglomerate focused on solving climate change and inequality, which he has referred to as Berkshire Hathaway 2.0. Chamath was an early executive at Facebook and then went on to become a super successful Venture Capitalist, with early investments into Amazon, Tesla, Slack, and Bitcoin. He’s also now the Chairman of Virgin Galactic and a part-owner of the Golden State Warriors. Chamath has developed a large internet following because of the broadcasting of his SPAC investments in easy-to-digest one-pagers, earning the title SPAC king in recent headlines. But, he has recently taken a step back from the limelight and Chamath talks about why that is.
IN THIS EPISODE, YOU'LL LEARN:
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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