Risk is the permanent loss of capital. It is not volatility, nor is it uncertainty. It is the realization of a loss. Therefore, risk is only clear with hindsight. Understanding how risk works avoids the mistakes that cause the permanent loss of capital.
Recent Writing
- AGI Is Not Coming Soon
- Burning Billions
- A New Vision for AI
- Apple versus Visa
- A New Perspective on AI
- Globalization Under Threat
- Transformation, Disruption, Opportunity, and Hype
- China, Prosperity, and Free Markets
- Artificial Intelligence: The Sharpened Rock
- The AI Horizon
- A Golden Age of Miraculous Cures…Perhaps
- An Optimist’s Vision of AI