How to Live Without Options - and Why It's the Key to Happiness
Financial options live in highly liquid markets. You can hold an option on a barrel of oil without knowing the first thing about drilling, and extract value purely through arbitrage. Human value is illiquid and depends on compounding. You can’t buy mastery of a hard skill, a deep friendship, a sense of community, or a real reputation on any spot market. None of it exists in a liquid state. These assets accrue only through the sustained, irreversible investment of time and attention. ...