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A comment on Binance Acquires FTX. Parent comment

Re:Binance Acquires FTX by dibt on Wednesday November 09, 2022 @01:29AM (#33528121)
>It's literally about how options traders and the like can be lucky for 10 or 20 years

I don't see how doing anything successfully (in this case, gaining profit?) for 20 years can be described as "luck." Surviving/being successful that long trading isn't a fluke.

I haven't read the book, but I know that Talib talks about 'tail risk' a lot and 'risk of ruin'. Which are very different than what you describe. If my bet size is only limited to 2%, I would be happy to be "lucky" for 20 years!

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Re:Binance Acquires FTX by catothedev on Wednesday November 09, 2022 @02:43AM (#33528510)
Example: sell attractively priced insurance against a 100-year-flood. You make money for 20 years, but then a crazy big flood bankrupts your insurance company. Who would have thought that would happen?! Options (and other things) can be structured to create 'catastrophic insurance like' outcomes.
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