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The Problem with Optionality

Nick Maggiulli · 28 Jul 2026

Read the piece on ofdollarsanddata.com ↗

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Nick Maggiulli did not write this page.

Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.

  1. Our reading

    Refusing to commit is the right strategy inside a portfolio and the wrong one everywhere else in life.

    Their wordsIn investing, non-commitment leads to better than average outcomes for the typical investor.

  2. Our reading

    Every year spent keeping your options open is a year not spent on whatever you eventually commit to.

    Mental modelTrade-offs

    Their wordsEvery year you spend with options is another year you don’t spend on the thing you eventually commit to.

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