> In portfolio theory, perfect correlation is fatal—when every asset moves together, the slightest shock ruins everything. Resilience comes from diversification: a spread of unaligned bets. Intellectual life works the same way. When all our convictions depend on the same assumptions, a single surprise unravels the whole.
> In portfolio theory, perfect correlation is fatal—when every asset moves together, the slightest shock ruins everything. Resilience comes from diversification: a spread of unaligned bets. Intellectual life works the same way. When all our convictions depend on the same assumptions, a single surprise unravels the whole.
An interesting perspective on resilience.