Nassim Nicholas Taleb

@nntaleb ↗

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Last Checked Aug. 28, 2022

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Wed Aug 10 19:53:19 +0000 2022

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Nassim Nicholas Taleb @nntaleb

FINANCE DU JOUR Drawdows >> returns. [Ex: #BTC's DD is >2x current price]. If you buy X at $1 & it trades at $1000, then back to $2, you are worse off than if it went frm 1 to 2. Why? a- You may have spent the $1000, even if mentally b- Someone else bought at $1000 #Sunkcosts — PolitiTweet.org

Posted Aug. 10, 2022

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Nassim Nicholas Taleb @nntaleb

@shaarsh2 Makes you more cautious! Glad you are OK. — PolitiTweet.org

Posted Aug. 10, 2022

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Nassim Nicholas Taleb @nntaleb

2) Old trader lore: if you own something trading at $1000, ask yourself: "would I buy it here if I didn't have it?". If the answer is Nyet, sell. So if it trades back at 2, you lost 998. Fallacy: there is no economic difference (outside of tax) between realized and unrealized. — PolitiTweet.org

Posted Aug. 10, 2022