Sundheim: Investing carries emotional asymmetry between mild gains and excruciating losses
Dan Sundheim · Dan Sundheim of D1 Capital on the art of public market investing · Oct 22, 2025 · at 29:36
Dan Sundheim, founder of D1 Capital Partners, reflects on the psychological toll of managing institutional capital during severe market drawdowns.
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“What I'd say about this job, is that there's like an asymmetry of emotion, right? Like, when you're making a lot of money, it's not like I'm, like, tap dancing around my house, like, euphoric, like, my lifestyle doesn't change. I feel like, yes, I'm happy that we're succeeding, but, you know, it's, I'm happy, but I'm not euphoric. When you go through something like that, I mean, it is, like, so painful and stressful, and it's not because I'm losing my own money. It's more about losing other people's money”
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