Time Horizon

“Turnover should be a function of how often you change your mind, and part of that in any discipline valuation-based process should be about how the stocks move. For me, turnover is mostly a function of volatility.”

“You know, instead we're just plotting what's the difficulty of tasks they can do over time, and that difficulty is measured in human time.”

“You know, in some ways, I think the story of Time Horizon is that progress has been remarkably continuous over, over so many years, so many orders of magnitude of compute and effective compute.”

“When you extend the time horizon, like all the low probability risks begin to potentially show up.”