To present my thoughts, I think, if we are bringing mathematics into picture, then there has to be a corpus in mind, towards which we can move with our investments. Return to some extent is not in our hands, so if we have a goal corpus, which does not move, then we can focus on reaching that goalpost with what we have got. We can look for opportunities, with varying degree of risks and rewards, and test them to see if they can help us reach our goal. And AFAIK, many investors of this forum don’t have any number in their mind, don’t explicitly talk about return, and are maybe trying to increase their net worth.
And it is advised to focus on careers than being caught up in market movements, climb the ladder in career, earn more, which can be directed to the market through many ways.
Age and time play an important role in investment journey, so in that sense, it will always be personal.
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