This podcast episode provides valuable insights into managing risks in uncertain markets, advocating for a shift in focus from personal comfort levels to objective measures in drawdown management, and challenging traditional views on portfolio construction and correlation reliability. Aaron emphasizes the importance of understanding liquidity risks, market exposures, and the current environment of low expected returns. He encourages traders to embrace opportunities in this challenging landscape, particularly regarding cryptocurrencies, where potential lies in second-tier assets despite inherent risks.
