Volatility Risk Quotes

Using volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return.

Briefly speaking, our conclusion is that stochastic volatility does not make a huge difference as far as the pricing is concerned if you get the average volatility right. It makes a big difference as far as hedging is concerned.

Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.

Bitcoin frees people from trying to operate in a modern market economy.

Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.

Cryptocurrencies in general give us a stable medium through which we can communicate our information about values and prices in a way that no government mandarin can distort or usurp. For the predators who have used our central institutions to predate on the rest of humanity, it's a very bad development.

The relative illiquidity of small-company shares - which often contributes to their being undervalued - also increases their volatility.

There is a lot of volatility in the digital asset market broadly, and certainly that is true in the bitcoin market. It's been true for XRP, and I think that's because these markets are very nascent.

What value does cryptocurrency actually add? No one's been able to answer that question for me.