Add training workflow, datasets, and runbook

training_data/curated/text/4040a5fab0be1f043f8faef46f7735c1aa63405e7f84dd2765387216b29f45ab.txt

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+416 Part IV: Additional Considerations 
+option investment down from the current $30,000 figure to $12,000, or 10% of his 
+total assets. If one fails to adhere to this readjustment of his funds after profits are 
+made, he may eventually lose those profits. Since options can lose a great percentage 
+of their worth in a short time pe1iod, the investor is always running the risk that the 
+option portion of his investment may be nearly wiped out. If he has kept all his prof­
+its in the option portion of his strategy, he is constantly risking nearly all of his accu­
+mulated profits, and that is not wise. 
+One must also adjust his ratio of T-bills to options after losses occur. 
+Example: In the first year, the strategist loses all of the $10,000 he originally placed 
+in options. This would leave him with total assets of $90,000 plus interest (possibly 
+$6,000 of interest might be earned). He could readjust to a 90:10 ratio by selling out 
+some of the T-bills and using the proceeds to buy options. If one follows this strate­
+gy, he will be risking 10% of his funds each year. Thus, a series of loss years could 
+depreciate the initial assets, although the net losses in one year would be smaller than 
+10% because of the interest earned on the T-bills. It is recommended that the strate­
+gist pursue this method of readjusting his ratios in both up and down markets in 
+order to constantly provide himself with essentially similar risk/reward opportunities 
+at all times. 
+The individual can blend the option selection process and the adjustment of the 
+T-bill/option ratio to fit his individual portfolio. The larger portfolio can be diversi­
+fied into options \vith differing holding periods, and the ratio adjustments can be 
+made quite frequently, perhaps once a month. The smaller investor should concen­
+trate on somewhat longer holding periods for his options, and would adjust the ratio 
+less often. Some examples might help to illustrate the way in which both the large 
+and small strategist might operate. It should be noted that this T-bill/option strategy 
+is quite adaptable to fairly small sums of money, as long as the 10% that is going to 
+be put into option purchases allows one to be able to participate in a reasonable man­
+ner. A tactic for the extremely small investor is also described below. 
+ANNUALIZED RISK 
+Before getting into portfolio size, let us describe the concept of annualized risk. 
+One might want to purchase options with the intent of holding some of them for 30 
+days, some for 90 days, and some for 180 days. Recall that he does not want his 
+option purchases to represent more than 10% annual risk at any time. In actual 
+practice, if one purchases an option that has 90 days of life, but he is planning to 
+hold the option only 30 days, he will most likely not lose 100% of his investment in