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Podcast: My Worst Investment Ever Podcast
Episode: Noel Smith – Always Have Risk Measurements in Place
Description: BIO: Noel Smith is the Chief Investment Officer of Convex Asset Management and the Head of Options Trading at Tanius Technology. STORY: Noel and his partner invested in a stock whose price kept falling. Every time the price would fall, Goldman Sachs would come in and buy like 50,000 out of the money calls. This made the partners hold onto the stock, eventually riding it to zero.LEARNING: Have risk measurements in place that you know you will not break. Have some percentage that you're willing to lose.“Learning about options and how they aff...