Bythe --

I thought about you yesterday. I was wondering if you were the past Captain of a Kindegarten Cliff Diving Team but you're off to a good start. Glad you were happy. It is always good to have some water under the boat.

By definition you may find your hedges are always more concentrated than your longs because there are limited good choices available on the darkside.

By the way did you model on Riskgrade? It correctly projected my performance yesterday almost to the penny. Quite impressive considering the large number of moving parts.

I chuckled at your high school coach comment. One boss I had always asked people during their job interview were they personally lucky? It tended to throw people for a loop since it was not something you would expect the Chairman of the Board to ask particularly when he was serious. :-) Actually I always agreed with him. "Luck" is a concept that is underexplored in human behavior -- personally I think it may have some roots in intuitive decisions that do not come out of the rational side of your personality.

I find intution is helpful for "outside the box" investing  ideas but then you have to do lots of research. Kind of the Cold War concept "Trust but Verify."