Collins an SKK point to percentage of net worth as sufficient for skin in the game arguments. I never doubted that essentially everything SKS has comes from Wave. But the things he has do not entail risk. Presumably (or so the argument goes) he is highly skilled, so if Wave fizzled he would find work elsewhere. His options would be worthless, but they do not represent the personal taking on of risk. He has simply been assigned an asset that has risks. Being assigned an asset that has risk and actually buying a risky investment with after tax salary dollars are wildly different things. There is a reason there is something called Form 4. Form 4 has been accurate, their fig leaf not so much.
They don't understand the different forms risk takes and they don't understand the place of Form 4 in equity investment.
To 'blame it on mobile' is a farce. Its a decade of priorities and iEORR. I welcome a shake-up.
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