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19 results for “existential risk”
...an existential risk. The only existential risk would be if we gave up and that was not gonna happen.
19:30 / 20:32
from transcript19:30 – 20:32
...existential risk. The only existential risk would be if we gave up and that was not gonna happen. But as you survive in this industry, you will find duration of pain is as important as intensity of pain to how damaging it is to both your future life
20:09 / 21:25
from transcript20:09 – 21:25
...of existential risk depending on how funded they are. And so, obviously, an entity that's a 120% funded is gonna have very different risk scenarios than one that's 40% funded. But you said something interesting, which is that and I've been thinking a
39:42 / 41:08
from transcript39:42 – 41:08
...risks are you worried about? Let's set aside the geopolitical. We could talk about that all day. The big risk that I see in markets that I think is ignored is the risk of illiquidity, and I see it in all sorts of places. I see it with private equity
38:11 / 39:41
from transcript38:11 – 39:41
...risk, there's emotional risk, you know. I mean, physically, whether it was surfing or snowboarding or rock climbing, like, there's things where you could have said risk if measured as permanent loss of x, which in markets is capital or in life is lif
1:06:39 / 1:07:51
from transcript1:06:39 – 1:07:51
...risk. A major world war that engulfs The United States, that would be considered a risk. A major, major fundamental currency decline,
30:48 / 31:58
from transcript30:48 – 31:58
...So that's an existential risk that you want to quantify. The first thing that you do is you figure out what that risk is, a full distribution of outcomes. And then you look at the instrument set that's out there in the marketplace starting from the m
32:15 / 33:23
from transcript32:15 – 33:23
...risks that are increasing within the overall system. The real risk that I think is rising is that with all of these multi manager shops that have scaled beyond belief, really, that are highly leveraged, the way that their risk management approach wor
38:55 / 40:08
from transcript38:55 – 40:08
...of risk. So you set in your mind of expectations of the market to drop a 50%. And for other people, that would seem like a wildly bad drawdown. What is your view of expectations of what will happen in the world over a decade. My expectation is that o
31:59 / 33:26
from transcript31:59 – 33:26
...and whether yours has stayed the same over time. I think I've always been a fairly risk tolerant person. And over time, as I've realized, how many things feel risky or appear risky on paper are actually not as risky as people think they are. Like, st
7:23 / 10:00
from transcript7:23 – 10:00
...risk management. Like, the wolf's always at the door. But I am a big believer in Nassim Taleb's definition of risk, probability, and severity. When we think about investing in China now, what's the probability that you're going to lose all your money
45:42 / 46:48
from transcript45:42 – 46:48
...risk. They want to feel higher up the capital stack. They wanna feel they're in some sort of secured position, and that creates a tremendous demand for assets that can check the credit box. And there's only so many lending opportunities out there tha
1:01:29 / 1:02:33
from transcript1:01:29 – 1:02:33
...riskiest thing you've ever done? There's physical risk, there's emotional risk, you know. I mean, physically, whether it was surfing or snowboarding or rock climbing, like, there's things where you could have said risk if measured as permanent loss o
1:05:52 / 1:07:14
from transcript1:05:52 – 1:07:14
...risk because you can't tell me what the probability of success is. I'm gonna come to your question about market success, regulatory success, policy, because this just adds more layers of of this uncertainty.
15:44 / 16:51
from transcript15:44 – 16:51
...Although it's funny you can prototype now. So even that is, like, getting kind of easier. But I would say the real product's an aisle. Market risk, if we're doing it right, like, I I don't know what a market looks like in five, let alone ten years, b
59:09 / 1:00:24
from transcript59:09 – 1:00:24
...because the other, you know, option is to underperform inflation, and that is more painful to people.
25:10 / 26:39
from transcript25:10 – 26:39
...they usually don't take into account. But in our world, there's an uncertainty. So what do you do when you face uncertainty? A subset of things that are uncertain that are not yet known whether they're valuable or not or they can be done or not, you
16:30 / 17:43
from transcript16:30 – 17:43
...risks. Low liquidity stocks are always gonna have certain types of risks that don't exist in high liquidity stocks. But when you think about these factors, these do not strike you as iron laws of how markets work, that you will at some point get comp
32:55 / 33:59
from transcript32:55 – 33:59
...risky? Yes. It is. But is it actually that much riskier than a job where you could get laid off or the sector could go through a downfall? Or, like, there are a lot of things about having a job that are not nearly as secure as people think they are.
2:48:20 / 2:49:46
from transcript2:48:20 – 2:49:46
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