California E&S Insurance

Oh, this is a great question. 1. The "Beat The Market" is a mindset, not the actual results. Selling volatility has actually under performed the SP500TR over the past 12 years. Though I expect it beat for the next 10. This mindset is important as it forces me to apply critical thought to every investment decision. I only move forward if I believe that it's a market beating approach. Even though selling volatility has underperformed SP500TR, I still expect it to outperform in the long run. 2. Almost all of the alternative (safer) investment approaches, such as just investing in index funds and bonds, cause me more stress in price fluctuations than the higher risk selling volatility does. It stems from some core beliefs that I have had to realize: a) I am horrible at picking prices in public markets. Almost always lose, so even index investing means I will probably buy and sell at the wrong times, b) time is infinite, c) volatility is infinite. Selling volatility with leveraged (managed) risk allows me to avoid having to predict whether a price is good or not and in every situation (price going up or down) there is a structured adjustment that can be made which leads to making profit. This structure of how to trade no matter what happens to the price in the market gives me more confidence and long term peace of mind that every trade will eventually be profitable than the alternatives. 3. When I started selling volatility, I wasn't financially independent but wanted to be. So I wanted more consistent 15% yearly returns so that I could \*feel\* financially independent sooner. Now, since I have been doing it for 12 years, I have so many experiences with it in all environments that it's second nature. This second nature makes it so routine that any anxiety that I use to have about trading a risky strategy has been conditioned out. I do think about the stress from time to time, but it's minimal and occasional.

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