> Strategies that result in 95 % drawdowns are not in the "making you money" bucket.
As long as you're betting with +ev after fees are taken into account then they certainly can make you money. Low sharpe / high vol != unprofitable.
As long as you're betting with +ev after fees are taken into account then they certainly can make you money. Low sharpe / high vol != unprofitable.
Once you look at a long sequence of large bets (where 95 % drawdown absolutely indicates a large bet), you'll find that those where big drawdown can happen grow slower because a big drawdown simply sets you back too far. It's worth earning a little less for each bet if none will cost you a huge loss.