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Love these short posts Old Rope. Thanks for sharing your thinking
I'm new to your blog. This was a fun read. I like chess. I like your comparison to the human element in investing. And I like the "seat of the pants flying" comparison. What might not be absolutely crystal clear is that NO individual investor is going to have a knowledge advantage over a professional team. It's more like me (at 5'9") playing one on one with Kevin Durant. The second point is that given the unfavorable knowledge positions, its also critical to avoid being the party under time pressure.
Again, thanks.
Art vs. Science.
Agree, unsound is more of an Art.
When the technique is enacted successfully— under strict constraints—it is beautiful.