Man, if only algorithms were that easy.
>Rule #1: O(1). Rule #2: You don't need anything else
Or maybe Buffet just meant don't misplace your money, as in losing a $20 out of your wallet and finding it in your dryer after the laundry.
>Rule #1: O(1). Rule #2: You don't need anything else
Or maybe Buffet just meant don't misplace your money, as in losing a $20 out of your wallet and finding it in your dryer after the laundry.
Conversely, if you accept excessive volatility by taking big bets, you can end up broke even if your expected value was positive.
Rule #1 according to Buffett: Never lose money. Rule #2: Don't forget Rule #1.
I learned this the hard way. Maybe I was brilliant.