Peter Madino's framework is that every dollar in an asset either gets gifted or consumed, and when it gets gifted the gift recipient must decide again whether to consume or gift, creating recursive risk uptake decisions through generations.
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Speaker
Matt ZieglerEvidence Quote
“every single asset will either be gifted or consumed can't separate it any other way and when that gift happens the consumption question happens again”
Source
Passive Investing Has Had a Major Impact on the Market: Here is What It Means for Your Portfolio— Excess ReturnsCreated: 8/11/2026, 6:34:01 AM
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