Professor of Economics. I am passionate about investing and look to minimise my downside any time i make an investment decision. Obviously i look for the upside but that only comes second to trying not to lose money. I then focus on opportunities that have an asymetric risk-return profile, ie making money most of the time and not losing too much in a downside scenario. Therefore a 50/50 you lose it all or make 2x your money just doesnt work for me. I build a full operating model for most of the companies I follow. And consistently update them based on newsflow/ results. For all the reasons above I tend to avoid 100+ PE companies unless I have a conviction on the cashflow stream mid-term. I started investing in debt securities - hence my focus on limiting the downside - and believe this has been a great way to learn about asymetric returns as debt returns are usually capped and it is important to understand how to avoiding losing money to be a good investor in the long term. I do like Warren Buffet and revere Howard Marks, who i think is one of the most brilliant investors of our lifetime.