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Leo Starikoff

@frontiere

7

friends

Operator & trader in LifeSci / Pharma / Biotech, hedged tail risk / volatility overlay. Christian: “The first gulp from the glass of natural sciences will turn you into an atheist, but at the bottom of the glass God is waiting for you.” (Heisenberg) Seek convex upsides, asymmetric bets & hedged left tails — anywhere in life. “…Radical risk management requires radically orthogonal return streams. Orthogonality requires unconventionality, yet many investors have an ‘intellectual home bias’ and prejudge unconventional strategies as imprudent a priori. The evaluation of risk-return should take place after the research, not before. Build highly prudent portfolios with ‘highly imprudent’ investments. • Uncommon returns require uncommon expertise • High unfamiliarity ≠ high risk • Superior differentiation is worth more than superior intelligence • The most basic questions can yield the most valuable answers.”