The Black Swan:
Don’t pick up pennies in front of a steamroller. Especially if the guy encouraging you to do it is taking a cut of the pennies but not spending any time in front of the steamroller himself.
For an example from real life, check out page 9 of this document for a fund my investment advisor wanted me to invest in:
“We got a positive number of pennies almost every day for several years!”
(NB: I’m not making a global judgment about this fund, just about the inherent anti-epistemology of obsessing over day to day “volatility”.)
The Black Swan:
For an example from real life, check out page 9 of this document for a fund my investment advisor wanted me to invest in:
“We got a positive number of pennies almost every day for several years!”
(NB: I’m not making a global judgment about this fund, just about the inherent anti-epistemology of obsessing over day to day “volatility”.)