What I Learned the First Time I Lost a Million Dollars
Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities.“Did you look both ways?”I recently took my 7 year old son out for a bike ride and he started to cross the street without looking. I grabbed his handlebars and shouted, “Did you look both ways?,” and he responded, “Oh, I forgot.” Fortunately, there was no traffic that day, and I was right next to him, but I explained to him that remembering to look both ways is not a luxury you can afford to forget. But looking back, I realized that I failed to remind him of that before we set out. Foolishly, I w...