[chosenbreed37]

That's true. I wonder if the actual objective is insurance. In the good times you lose out. But you don't mind because it's insurance against bigger losses when things go south. As an example it is reported that the organisers of the Wimbledon tennis tournament have spent 34million on insurance premiums over a period of time. Due to covid-19 they are cancelling the tournament and getting a payout of 100million+. Probably not priced correctly but you get the point. In the good years they're hemorrhaging money...

[tomhoward]

Yes, it’s an insurance policy, not a standalone investment strategy.