The Three Sides of Risk
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I grew up ski racing in Lake Tahoe. I was on the Squaw Valley Ski Team, and it was the center of my life for over a decade.
At a conference a few months ago I was asked what skiing taught me about investing. This was on stage, where you can’t ponder your answer – you have to blurt out whatever you can think of.
I didn’t think skiing taught me anything about investing. But one incident came to mind.
“Well, let me take this to a dark and tragic place,” I said before telling a group of 500 strangers a story I hadn’t talked about much in almost 20 years.
A dozen of us had grown up skiing together. Most had known each other since we were young children.
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About this essay
A personal story about risk that shows how we often misunderstand its true nature and implications.
“The Three Sides of Risk” was written by Morgan Housel. Read the original at collaborativefund.com. Copywork shows the text so you can practice by retyping it word for word; all rights stay with the author.