This is a fascinating slightly old interview with Chris Cole of Artemis Capital Management.
He runs a long volatility fund i.e. a crash protection fund.
In the interview he talks about the core principle of the fund – to sacrifice the next linear predictable outcome in order to gain exposure to a truly convex upside outcome.
Around minute seven he goes into a brilliant analogy using George Lucas’ success with Star Wars.
Most interestingly, this idea can also be applied to life as Chris describes in minute 47 of the interview embedded here.
Worth checking out their writing and following him on Twitter.
