Make Your Story - Deepstash

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If You Don't Know What You Want, This Is For You

Make Your Story

What you are certain about, is your life's calling, and nothing else matters.

If you want to do something, do it even if it fails. If you want to be with a certain person, pursue that person, whatever happens. If you want to go somewhere, arrange and go, everything else can take a backseat.

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Three different sides of risk
  • The odds you will get hit.
  • The average consequences of getting hit.
  • The tail-end consequences of getting hit.

The first two are...

The tail-end consequences

The tail-end consequences of an action or event (those with low-probability, high-impact) are all that matter.

In investing, the average consequences of risk make up most of the daily news headlines. But the tail-end consequences of risk (for example, pandemics and depressions) are what make the pages of history books.