Matt Levine is a famous columnist for Bloomberg who publishes insightful posts like this, quote:

following the law is a low-variance strategy, while ignoring it is a high-variance strategy. If you construct a comic-book supervillain lair and build a mind-control ray as part of a plot to take over the world, then there is a chance that you will either (1) rule the world, which is very good, or (2) be captured in a military raid and imprisoned in an impregnable island fortress, which is very bad. If you don’t do that, you cut off those tails of the distribution.

** **** ******** ** ** ** investments (***** *******):

*** * ******* ******* ****, *** optimal ****** ** **********-***** ******** *************** ****** **** ****. ** *** *** ******** ** all *** ********* **** *** **** are ******* *** *** ******** *****, without **** * ****** *** ** lying ***** *** *** ***** ***** technology ** ** *** **** ***** financial ******* *** *******, **** *** are *** ******* ****** ********** *** optimistic ********. *** * ******* ******* fund, ***********-******** **********; *** **** ** **** as **** **** ** ******** **** succeed ************* (*** **** *** ********* upside) ** **** ************* (*** *** lose **** ****** **********).

** **** **** ******** ** ******** it ** **** ****:

** *** ****** *********** *** ****** build **** ****-******* **** *** **** rockets **** *** ****** ** ****, you *** ** *** “*** ***** stupid ********** **** ******* **** ********” and ******** ************* ***. ** *** ignore *********** *** **** * *** of ****** **** **** **** *** rockets, *** *** ********** ** ** impregnable ****** ********.

*** ******* *** ********* ***** *** higher **** ** ***** ************ *** the ********** ***** ********* ** ********* like ********* ** *******.