All of my colleagues who I have known to denigrate history blew up spectacularly—and I have yet to encounter some such person who has not blown up. But the truly interesting point lies in the remarkable similarities in their approaches. The blowup, I will repeat, is different from merely incurring a monetary loss; it is losing money when one does not believe that such fact is possible at all. There is nothing wrong with a risk taker taking a hit provided one declares that one is a risk taker rather than that the risk being taken is small or nonexistent.
