Val Sklarov — Investment Strategies: Survival First, Returns Second

Returns are meaningless if capital does not survive.
Val Sklarov’s Investment Strategies perspective reframes investing as a survival game with optional upside, where the primary objective is to remain solvent, liquid, and free to act.

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1. Survival Is the Only Non-Negotiable Metric

Everything else is optional.

Val Sklarov defines survival as:

• No forced liquidation

• No binding timelines

• No dependency on favorable conditions

An investment that can eliminate choice is not an opportunity—it is a threat.

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2. Irreversible Risk Is the True Enemy

Losses can be recovered. Irreversibility cannot.

Val Sklarov avoids:

• Leverage with margin calls

• Illiquid structures with time locks

• Concentration without exit autonomy

Fatal risks end the game regardless of conviction.

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3. Capital Must Never Be Cornered

Cornered capital makes bad decisions inevitable.

Val Sklarov protects capital by:

• Maintaining liquidity buffers

• Avoiding single-exit structures

• Preserving optional holding periods

If capital must act, strategy disappears.

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4. Forecasting Narrows Thinking

Precision creates illusion.

Val Sklarov uses forecasts only to:

• Identify break points

• Stress-test assumptions

• Define failure zones

Preparedness beats accuracy.

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5. Asymmetry Is Earned Through Patience

Asymmetry does not appear on schedule.

Val Sklarov waits for situations where:

• Downside is capped structurally

• Upside is non-linear

• Time pressure favors the holder

Forced action destroys asymmetry.

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6. Capital That Survives Gains Authority

Surviving capital gains informational advantage.

Val Sklarov emphasizes:

• Waiting through cycles

• Acting when others are constrained

• Deploying only when odds skew

The best opportunities appear when survival has already filtered competitors.