I was on an expansion call yesterday with two peers.
One of the peers spoke about being first to join.
He has a track record of joining big movements first.
I wondered “why don’t I join movements first?”
Is it that I want to wait to see who does it first?
Is it that I want to wait until the price increases?
Or is it that I am waiting for more data to show up?
I bet it’s all three, sometimes or most of the time.
Or maybe, it’s risk and the appearance of risk.
Which we know aren’t the same thing.