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In reply to @nor
3/18/2023
Dan Romero@dwr
Perception of the value of $X does not scale linearly as a % of net worth.
In reply to @dwr
3/18/2023
Connor McCormick@nor
True, $X always feels like the counterfactual of what you can buy with $X. Which of course includes things you've already bought and wouldn't want to buy more of (the function can saturate).
In reply to @dwr3/18/2023
Connor McCormick@nor
You'd still agree that if I spent $X and X was my net worth that would be larger signal than if it was merely some small fraction of my net worth. otherwise "All in" means nothing