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Abschnitt 1 So, I was telling a friend of mine about this very big investment I was going to make.
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0:00So, I was telling a friend of mine about this very big investment I was going to make. It was going to be the biggest investment of my career. He was like, "Dude, that's like pretty risky. [music] Like, that's a huge bet." He just kept telling me all the things that were wrong with it. And I remember thinking to myself, outsiz returns come from uncertainty. [music] As soon as something is guaranteed, all of the alpha or the arbitrage of making the [music] bet goes away. And so, you can't have uncertainty as the reason you're not going to make an investment or make a bet because that's inherently why the payoff exists. Opportunities [music] only look like opportunities in retrospect.