1) The optimal strategy to deal with the factor of randomness in life:
Curb your greed and learn to be opportunistic.
Greed is the desire and action to grab that which is not given to you by the universe.
Opportunism is the ability to seize the windows of opportunity for gain that are periodically handed to you.
One must learn to tell the difference between an act of opportunity and an act of greed or folly.
To do that, one must know enough (ie, know what you are doing), and be enough (ie, to know oneself).
2) On asymmetric volatility:
In a bull market, greed is more reliable than fear: buy calls.
In a bear market, fear is more reliable than greed: buy puts.
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