Good luck with that. From what little I know, risk management is a necessary condition for survival rather than an edge. The question then becomes how asymmetrically you can play it. So risk management is just one variable in the equation. That hardly makes it the “Only True Edge.” I think you’d be better served continuing with your laughter at B1S2’s expense.
I am not quoting a nobody, the fellow who said it was the former head of global portfolio construction at Citadel. If you think you are smarter than him, more power to you sir.
Please run that by me one more time. What was the point you were trying to make? Is it this: If so, yes, it is not the "Only True Edge", if not please explain. My point was, everyone (me included) said risk management was not an edge. But someone was able to turn it into an edge and generated alpha. It was eye opening for me, I never thought risk management by itself could be solely used to make money trading. Thanks.
As I understand what he said, I already answered your question the first time: Think it through. Unless, I'm wrong, of course. But don't take my word for it.