downside protection

Entrepreneurs don't take risk — they do everything in their power to minimise it. Heads I win, tails I don't lose much.

Override genetic pessimism to take asymmetric bets, with one hard rule: avoid total ruin.

Stack your worst fears simultaneously to prove you can survive before you invest

Build portfolios that survive the worst scenarios rather than just capturing the best ones

Only invest when the price is significantly below calculated intrinsic value