Thomas Braziel(@Bkclaims):Investors constantly confuse risk with uncertainty. “It could take five years” becomes “it will take five years.” “We don’t know what’s there” becomes “there’s nothing there.” That confusion is where a lot of the money is made. I don’t mind uncertainty. I want to be overpaid for it. Underwrite the setup, not the prediction.

Thomas Braziel

@Bkclaims

Distressed & Special Sits Investor Bankruptcy • Crypto • Litigation • IEEPA Claims @117partners | tom@117partners.com

Joined October 2012

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Thomas Braziel@Bkclaims

2026.08.27 16:19

Investors constantly confuse risk with uncertainty. “It could take five years” becomes “it will take five years.” “We don’t know what’s there” becomes “there’s nothing there.” That confusion is where a lot of the money is made. I don’t mind uncertainty. I want to be overpaid for it. Underwrite the setup, not the prediction.