In investing, higher volatility usually equates to higher possible returns. In today’s world of online expression, we settle for lower expected value, market-level outcomes so as to not ruffle any feathers and not take any outsized risk. We’re basically hoping to allow people to know us enough so that they include us in their passive index of... See more

The central point of the post below is that risk is the product of venture capital, and some managers understand that better than others. Many of the replies talk about the futility of 'financial engineering', and how concepts like portfolio construction are less relevant to early stage VC due to the greater... See more