The only reason I run aggressive DeFi market neutral strategies is because I’ve spent ~80% of my waking time over the past 8 years perfecting them, and my mental models. I consider myself to have deep alpha in this particular vertical, in both choosing the right investments and getting out at the right moments. I’ve found a niche where I have an edge over other market participants and by god i’m gonna make the most of it while it lasts. Knowing when to derisk is equally as important as knowing when to risk-on. At some points, no matter how strong your alpha, the market is so negative that it offsets it completely. The opposite scenario is also true in the up markets: everything is so positive that max risk is only logical, a.k.a the “free money period” Being mindful of these moments, and honest in the risk premium you assign to the strategies are the keys to making money, and not getting rekt.