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Kelly Korshak: Taking Risks in Investing in Your Future with A.I.
In this episode, Jason, Scott, and Kelly discuss:
- The application of mathematics to finance
- The opportunity cost of leaving Paul
- Battling against a track record of known value
- Understanding risk and risk management
- How do you know when you’re not taking enough risks?
- Investors are better off looking at science than good ideas.
Key Takeaways:
- When you make choices in life, you often incur an opportunity cost, whereby if you do one thing, you cannot do another, and so you lose an opportunity somewhere else in exchange for a better opportunity where you think it will be more valuable.
- A track record of success would always be an uphill battle, but you should not limit yourself to chasing the same successes as people ahead of you. The key is to take risks and believe in your product or service.
- Markets offer unique ways to make money, but you've got to understand the other side - who is going to give you the money? No matter how great your idea is, if you don't understand how to work within the rules of risk, you won't receive any funding.
- A trader who only behaves according to market constraints, which are 0.4%, is unlikely to make money; in other words, he is not risking enough, so he needs to set up his portfolio so that it moves at some multiple of what the market moves every day.
- Good ideas come and go all the time, but science marches on. Investing should be in a form of a very logical scientific methodology of seeing what is best and what is not, and that's what iFlip investors do.
"Understanding risk is fundamental to working on Wall Street. No money is given to a portfolio manager unless the risk is clearly defined and obviously, to sum it up, if they can't define the risk, then how do they know if you're performing or not?" — Kelly Korshak
About Kelly Korshak: Kelly is the Chief Technology Officer with iFlip. He attended Stanford University, then he later went on to the University of Chicago and has a graduate degree in Mathematics. He has spent 30-plus years on Wall Street investing over 4 billion assets for institutional banks and funds, including Deutsche Bank, Morgan Stanley, Diamondback Capital Management LLC, Brevan Howard Asset Management LLP, and the tutor group's strategy to investing is built around the approach that mathematical algorithms produce superior risk-reward ratios in the stock market. This algorithmic intelligence approach led him to retire from Wall Street with his family in Arizona to start his own company, flip investor iFlip. His dream is to empower all individuals to grow their wealth through AI investment technology.
Connect with Kelly Korshak:
Website: https://iflipinvest.com/
LinkedIn: https://www.linkedin.com/in/kelly-korshak-1901aab8/
Connect with Mark Victor Hansen:
Website: https://markvictorhansen.com/
LinkedIn: https://www.linkedin.com/in/markvhansen/
Facebook: http://www.facebook.com/MarkVictorHansenFanPage
Twitter: http://twitter.com/markvhansen
YouTube: https://www.youtube.com/channel/UC1WRGxfPQ5JMQL-NDa_jO8Q
Connect with Jason and Scott:
Website: https://henderxcapital.com/masteryourmillions
Twitter: @MasterYourMs
Facebook: https://www.facebook.com/groups/realestateinvestorsofutah
Instagram: @MasterYourMs
Email: [email protected], [email protected]
View all episodes
By Dr. Jason and Scott HendersonIn this episode, Jason, Scott, and Kelly discuss:
- The application of mathematics to finance
- The opportunity cost of leaving Paul
- Battling against a track record of known value
- Understanding risk and risk management
- How do you know when you’re not taking enough risks?
- Investors are better off looking at science than good ideas.
Key Takeaways:
- When you make choices in life, you often incur an opportunity cost, whereby if you do one thing, you cannot do another, and so you lose an opportunity somewhere else in exchange for a better opportunity where you think it will be more valuable.
- A track record of success would always be an uphill battle, but you should not limit yourself to chasing the same successes as people ahead of you. The key is to take risks and believe in your product or service.
- Markets offer unique ways to make money, but you've got to understand the other side - who is going to give you the money? No matter how great your idea is, if you don't understand how to work within the rules of risk, you won't receive any funding.
- A trader who only behaves according to market constraints, which are 0.4%, is unlikely to make money; in other words, he is not risking enough, so he needs to set up his portfolio so that it moves at some multiple of what the market moves every day.
- Good ideas come and go all the time, but science marches on. Investing should be in a form of a very logical scientific methodology of seeing what is best and what is not, and that's what iFlip investors do.
"Understanding risk is fundamental to working on Wall Street. No money is given to a portfolio manager unless the risk is clearly defined and obviously, to sum it up, if they can't define the risk, then how do they know if you're performing or not?" — Kelly Korshak
About Kelly Korshak: Kelly is the Chief Technology Officer with iFlip. He attended Stanford University, then he later went on to the University of Chicago and has a graduate degree in Mathematics. He has spent 30-plus years on Wall Street investing over 4 billion assets for institutional banks and funds, including Deutsche Bank, Morgan Stanley, Diamondback Capital Management LLC, Brevan Howard Asset Management LLP, and the tutor group's strategy to investing is built around the approach that mathematical algorithms produce superior risk-reward ratios in the stock market. This algorithmic intelligence approach led him to retire from Wall Street with his family in Arizona to start his own company, flip investor iFlip. His dream is to empower all individuals to grow their wealth through AI investment technology.
Connect with Kelly Korshak:
Website: https://iflipinvest.com/
LinkedIn: https://www.linkedin.com/in/kelly-korshak-1901aab8/
Connect with Mark Victor Hansen:
Website: https://markvictorhansen.com/
LinkedIn: https://www.linkedin.com/in/markvhansen/
Facebook: http://www.facebook.com/MarkVictorHansenFanPage
Twitter: http://twitter.com/markvhansen
YouTube: https://www.youtube.com/channel/UC1WRGxfPQ5JMQL-NDa_jO8Q
Connect with Jason and Scott:
Website: https://henderxcapital.com/masteryourmillions
Twitter: @MasterYourMs
Facebook: https://www.facebook.com/groups/realestateinvestorsofutah
Instagram: @MasterYourMs
Email: [email protected], [email protected]