#655 Lessons from the best investors in the world w/ William Green
The Pomp Podcast
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How Much Money Can I Make?
Howard marks said that risk avoidance can become return avoidance. And so if you actually are so risk averse that you don't bet, then you're also dooming yourself to return avoidance. It's not about taking masses of risk all the time; it's about waiting until the odds are in your favour. There's a mispriced gamble, to use a wonderful phrase from charliey munger, and then they snatch it with what he calls gumption. i would say in almost every case, with the people i'm writing about, there's this kind of extreme patience where they’re sat on their hands, sitting on their hands,. Then suddenly the odds turn massively in
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