Safe Haven: Investing for Financial Storms

Takes you very intuitively from busting modern portfolio theory to Kelly (Margin of safety/Var/Median measures) to the importance of managing tail risks - using simple difference from Geometric and arithmetic. Written by a true practitioner with amazing clarity of thought

I enjoyed reading through the book; you've expanded my thoughts about risk mitigation.

Please don’t expect “practical recommendations” in this book. It contains a complete framework about risk mitigation in markets, that is way more valuable in long term than “quick tips”.

O livro explica todo o racional por trás da estratégia de ativos para Hedging. Vale a pena a leitura para quem almeja a construção de um portfólio completo, com as devidas proteções.

it provides depth to reasoning under uncertainty. Splendid, life changing work. I use this knowledge to review all kinds of activities (financial, sport, intellectual, emotional,...).

Most important lesson: Most people focus on average historical returns and allocate their assets accordingly. You shoul allocate them according to the median outcomes and protect them in this way.