You know, recently I came across the important concept of “Taking Risk”. In the video below, Tom Sosnoff talks about his interaction with this golf Caddy Master – Jimmy Rocko (who is around 40 or 50 yrs older than him) when he was 15 or 16 years old.

Passive Investing is Broken. Here’s how to fix it | Tom Sosnoff | TEDxUChicago (click here).

While he was working as a Caddy, during break time, they would take turns taking shots at a bucket which is filled with money. The caddies have to put money (a quarter) in every time they take a shot at it. It is like in a sense a form of gambling ‘venture’. Over time Jimmy made thousands of dollars from this gambling venture because he would only take a shot at the bucket when it made ‘sense’ to gamble. Jimmy understand “Pot Odds”. Well, for one, ......