Editorial companion

What stands out

The guest explains risk as a choice about what to lose and why, not just how wild prices swing, and he separates risk tolerance from risk capacity, tolerance is how much volatility you can stomach, capacity is how much you can afford to lose. He offers a practical checklist to test whether headlines should change your plan, and he argues that a strategy that looks safer on paper can still introduce new, hidden risks to goals like retirement or paying for college.