Where is the most profitable expression? The primacy of decision quality and ROI ceiling should be conditional because they do not account for external shocks that can redefine the very distribution of returns, regardless of the intrinsic quality of the initial investment.
Return distributions, even those following a power law, can be fundamentally altered by macro-regional events or unforeseen regulatory changes, as shown by the impact on Chinese tech companies in 2021.
Political intervention can instantly shift the upper limit of ROI for an entire sector, rendering yesterday's best investment decisions obsolete.
Tracking strategies and ticket sizes can then become crucial levers for survival and maximizing returns in such a volatile environment.
It is about pursuing the full expression of return, even in the face of unforeseen asymmetries in the market.