I think the solution to this is to add something to your wealth to account for inalienable human capital, and count costs only by how much you will actually be forced to pay. This is a good idea in general; else most people with student loans or a mortage are “in the red”, and couldnt use this at all.
I think the solution to this is to add something to your wealth to account for inalienable human capital, and count costs only by how much you will actually be forced to pay. This is a good idea in general; else most people with student loans or a mortage are “in the red”, and couldnt use this at all.
This doesn’t play very well with fractional kelly though
Human capital is worth nothing after you die, though.