- The first rule of career planning: Do not plan your career.- The world is an incredibly complex place and everything is changing all the time. You can’t plan your career because you have no idea what’s going to happen in the future. You have no idea what industries you’ll enter, what companies you’ll work for, what roles you’ll have, where you’ll... See more

Biotech Sizing - Accept Individual Losses

You have to accept you’re going to get a 10SD loss. You can’t expect to do that risk-reward thing on one stock... You have to do that over a whole bunch of stocks and say on average, if I do this on a 100 stocks, I’m not going to get a 10s.