The Importance of Understanding the Market Participants

I think what people would often describe him as is that he definitely had just an incredible risk management framework. So again, really patiently waiting for things so that he felt like the odds were strongly in his favor and also being able to make sure it never pulled him into a situation that he couldn't get out of. Then subsequent to that, I actually ended up going to Fortress and I was running a global macro portfolio there alongside Mike Novogratz who was running the public market side of Fortress. That was effectively a way to understand a very different investing style which tended to be more short-term,. More trading-oriented, much more active than Stan.