Opportunity cost
Risk & psychologyThe return given up by choosing one use of capital over the next best alternative.
In plain terms
Money stuck in a broken thesis is not merely flat — it is missing everything else it could have been doing.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Opportunity cost of time
Risk & psychologyWhat you give up by spending time one way rather than another.
In plain terms
The most under-bought thing money offers: a shorter commute, help at home, a job you can leave, a week not spent worrying.