What I Learned the First Time I Lost a Million Dollars

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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. Looking back, I realized I failed to remind him of that before we set out.  Foolishly, I was only focused on the rewarding experience of a family bike ride in perfect weather, and momentarily lost sight of the downside risks.....
Source: https://www.coindesk.com/what-i-learned-the-first-time-i-lost-a-million-dollars