What Options Are Good For
Risking capital is like making a statement in a language. In a natural language like English or French, asserting some proposition puts you at risk of being right or wrong. If you say true things over and over, people will respect you more; if you constantly assert obvious falsehoods, no one will take you seriously. In the language of financial assets, expressing some view means risking your financial capital instead of your social capital: if your financial assertion is wrong,…
Thursday, September 8, 2011
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