316 karma · joined October 7, 2014
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Biggest mistake was buying the “higher end” 2.4ghz model that’s actually performing the same as the much cheaper 1.4ghz model.
i’ve read about ed thorp pioneering statistical arbitrage in the 80s (?) which would fit the bill of “consistent returns”, but I doubt that there is any of that left close to 50 years later.
I’m wondering what all these quantitive funds are doing.
I was ultimately convinced by NNT's arguments, that a) prediction is the wrong thing to focus on (robustness or "anti-fragility" to wrong predictions is) and b) humans aren't good at predicting [the outcomes of complex systems] one way or another. PMs may be better than expert panels, but reality doesn't award extra points for being marginally less wrong.
Prediction markets are also called "information aggregation markets" and in that capacity they may be useful. Assuming all relevant information is out there, but doesn't properly propagate upwards a hierarchy for "behavioural" reasons (e.g. nobody wanting to be the face of bad news), then an anonymous (!) market could be the way for information in the low ranks to move where it is needed. In this case, there is hardly any "prediction" involved, and I assume it could work for that reason.
$ upthe web landscape needs more than one large browser, otherwise the company behind that browser ends up dictating web standards.
also, IE Edge is a fantasic browser. from a consumer perspective, nobody is missing out.
this has been done by cirillo and taleb [1], and the results are sobering: there is no evidence for a drop in violence. in fact, there isn't sufficient data for any kind of claim (intuition: major conflicts account for the majority of deaths; the inter-arrival time of a major conflicts is 100 years (ballpark); therefore 60 years of relative peace are not sufficient).
EDIT: removed preaching, since not relevant to the parent comment.
http://mason.gmu.edu/~rhanson/futarchy.html
it would probably not work because of Goodhart's law, and be generally rejected for being too weird. something for vulkans to try out, maybe.
the only time I stopped laughing was when the author mis-characterized the idea of skin in the game (it is NOT having “vested interest in an outcome”. it’s pretty much the exact opposite).
Can you optimise the cost basis under the constraint of coins being in different wallets at different times? (e.g. I have an expensive tranche of coins that would minimise my tax when matched with a certain sell, but those coins were not in the exchange at the time, hence I can't argue that these were the coins I sold) Further, when moving funds between exchanges, can you pick the tranches so that the cost basis gets optimised from sales on that exchange on later trades?
in a similar vein, what could use somebody's web skills is a ICO fraud site that looks as impressive and overengineered as ICO marketing sites (case in point: IOTA https://iota.org/. not commenting on the merits of the project, just the site). although these sites probably already exist.
* people falsely believe that due to having learned about the myth of the buy&hold investor, they are now 100% in control of their psychology and will not succumb to 'this time is different' panic selling when things get serious. their own psychology will be the biggest surprise to young investors, who have entered the market after 2008 and haven't experienced even a single correction.
* people aren't properly accounting for being forced to sell at a loss due to unexpected expenses, which are dramatically more likely to occur during a downturn, i.e. the probability of losing their job during a recession is >> than any other time. same thing with divorces, probably. maybe even illness. distant relatives asking for money. etc etc
* people aren't entirely wrong to panic sell when mass hysteria breaks out. most of the research is based on the US stock market, which is exceptionally long-lived and uninterrupted. if you asked tsarist bureaucrats retiring in France how well their portfolios are doing, they would sing you a different song.
* [personal] if I had to put a monetary value on the psychological relief I feel since reducing my exposure to equities by half, it is very well worth whatever grandiose compounding fortune I am forgoing because of it, not to mention that should I be lucky with the timing, that may not even be the case. as a rule of thumb: when you repeatedly find yourself checking financial news, you are invested too much (and are now longer a 'passive investor')
the only good thing to be said about the 'buy & hold' meme is that it drives people away from the even worse active management industry, but that doesn't make it unconditionally good advice.
Their all-time favorite, to be repeated with ceremonial regularity, is that his insights are 'trivial'. ignoring for a moment that these people also believe it 'trival' to bring a product to market once it has been figured out (by them) in the lab (if they even lower themselves to think in terms of 'products' for the 'populace'), treating his literary writings, which are intended for the general public, which is very much in need of trivial insights, as if they were his scientific writings, then dismissing his scientific writings based on his literary writings, is simply malicious, owed to the fact that he is the wrong kind of academic, who lifts weights and calls people 'imbecile' on twitter, hence reflects poorly on their comic book-like self image of scientists as some kind of quasi-master-race, which is above cursing, emotion and whose physicality is a mere inconvenience, getting in the way of dreaming up ever more distant alternate realities, to be sold to the public as discovery.
renting out your flat to tourists for profit? upsets the neighbours, doesn't comply with arbitrary laws written centuries ago -- illegal. using cabs that you order through an app? threatens our cronies with something they are not prepared to handle -- competition -- so must be illegal. buying and selling magic internet money for fun and profit? could be interpreted as a security, hence must comply with arbitrary rules that didn't prevent the biggest financial crisis in history, but are otherwise supposed to be good for you -- ILLEGAL.
at least one can take pleasure in the knowledge that the same people who enable and support these kinds of policies cry themselves to sleep with a (paper) issue of the WSJ every night, wondering why there is no growth, no inflation, 'millennialls' not buying diamonds, or cars, or houses, not having kids, and most of all, not sufficiently paying into the ponzi scheme that is their retirement plan, as well as any number of other issues more or less related to, or caused by, their own stupidity and boundless self-interest.