hogFeast

95 ms·

871.
by hogFeast 7y ago
There is a trader at JPM (I think, this was a few years ago) who has a similar set up. The computer reads out the prices/emails/research at like 400 words/minute. Totally incomprehensible.
872.
by hogFeast 7y ago
Ancient Wheat is very 2016 now. I prefer Raw Wheat.
873.
by hogFeast 7y ago
Wut? If you raise rates, then the price of bonds falls...if you hold debt, you want lower rates because you can then sell your bond at a higher price (theoretically, these are foreign-currency bonds so it isn't quite that simple). And
874.
by hogFeast 7y ago
You know they are in the middle of a debt crisis, right? The issue with Turkey specifically is that they borrowed a ton of EUR, they borrowed a ton of USD, they don't earn much of either, and the currency has halved in three years or s
875.
by hogFeast 7y ago
Perfection comes not when you have nothing more to add but when you have nothing left to take away.
876.
by hogFeast 7y ago
Simple: https://en.wikipedia.org/wiki/Impact_of_the_privatisation_of... - you can find other information/sources on the same page (not all of it is accurate but that will start you off).
877.
by hogFeast 7y ago
Left out is the specific reason why you think it will work well in the future. Define really good? They are less safe, the prices charged to consumers may be lower but what is the overall subsidy (I understand that you want other people to
878.
by hogFeast 7y ago
I regularly use NHS ER (not personally, fortunately) and it is a joke. The hospital local to me is notorious for fudging waiting time numbers, the longest wait I have had is 36 hours, and even when it is literally deserted it will still be
879.
by hogFeast 7y ago
Do you understand what they were like when they were public? Costs have fallen dramatically, prices are actually way down, the govt subsidy is down (although will rise again with HS2), and service quality/output is up. We know this doe
880.
by hogFeast 7y ago
It is also a little bit more complex than that because, of course, by cost means you underweight the size of the public sector which typically pays far lower prices. As an outside observer, charging the private sector more is a smart way of
881.
by hogFeast 7y ago
I am not sure what the current state of fintech is but it is fairly obvious to observe that there is a ton of cost in the industry that probably doesn't need to exist anymore (and btw, we aren't even in the first innings of this).
882.
by hogFeast 7y ago
Great, but we are talking about a market where "inside" information is already legal.
883.
by hogFeast 7y ago
Where I am, there is a largely effective level of oversight within politics i.e. all lobbying/gifts disclosed, decent media coverage, public funding of political parties, etc. But yes, definitely an area where stuff can go very wrong.
884.
by hogFeast 7y ago
Not to be even more pessimistic but you will find this happen everywhere you give humans authority over each other without full oversight. I have a friend who worked in a prison as a psychologist, somewhere with a generally liberal attitude
885.
by hogFeast 7y ago
I didn't say either that employees are elite or that they think themselves to be elite. I said that is the hiring culture, which is something quite different.
886.
by hogFeast 7y ago
When he started talking about the tech, I could tell. If you want to make money: make things that other people want. It is great fun to tinker with the latest JS framework...but that is what you want to do, not what other people actually ne
887.
by hogFeast 7y ago
It is usually some combination of consultants using bogus logic, and other executives trying to bump their own pay by hiring very expensive colleagues. I have never been convinced it is worth paying these kind of numbers. I have looked at a
888.
by hogFeast 7y ago
One story that I always remember is a company in financial services. They only hire Oxbridge. For decades, 95% of the senior staff went to Oxbridge. They were, according to themselves, the elite. Unf, and maybe not surprisingly, they are in
889.
by hogFeast 7y ago
Just as a point of logic: even if we are 100% sure that there is no funny business going on with ownership of Huawei (which we don't know), we should just assume the govt interferes because the incentives to do so are strong and the me
890.
by hogFeast 7y ago
> STEM majors regularly complain, loudly, about the fuzziness of the classes that teach those skills. It is easier, for some people, to be precisely wrong rather than roughly correct. I agree generally that most universities are bad at p
891.
by hogFeast 7y ago
Read the post I replied to. It was about the UK. Three years in England. Four years in Scotland.
892.
by hogFeast 7y ago
College isn't two years (some vocational courses are two years, that isn't college though). Not all MSc are 1 year. And you will still need 4/5 years for a PHd if you do a MSc (in almost no cases is one year of a MSc a substi
893.
by hogFeast 7y ago
All backtesting proves is that you have discovered a technique that worked in the past. Unless you have a time machine, that isn't very useful. The competitive advantage in quant and non-quant is identical, it is only the tools that ar
894.
by hogFeast 7y ago
Yep, I really don't think that makes it better (can anyone explain why it is always psychologists who invent these kind of measures? Is there some test we can perform at age 13 so we can identify people who will go on to do this kind o
895.
by hogFeast 7y ago
It is funny to watch you struggle with this (maybe this is why you don't see). He specifically said that wasn't what they were doing (and said it was often simple linear regression with one or two variables), they used no complica
896.
by hogFeast 7y ago
One important thing to understand about fundamental investing: most fund managers can't outperform the index the way they manage money, and so the business model is lever up on beta, hope to catch heat (close fund down and reopen until
897.
by hogFeast 7y ago
Burford Capital, LCM Finance, Manolete Partners are all publicly listed companies in the UK that do this (iirc, there was a change in the law a few years ago that meant this industry really started at scale in the UK). I have never liked th
898.
by hogFeast 7y ago
The key bit is getting people to explain the answer, not the answer itself. I have had interviews where the company has done that. I would rate all of those interviews to be very high quality. No nonsense trick/leading questions. Just
899.
by hogFeast 7y ago
What is funny about this is that he doesn't realise most medieval historians have actually recognised this and solved it...answer: no exams. Just get students to write essays. Most history classes do exams but, where it is taught well
900.
by hogFeast 7y ago
Does anyone know why de Prado left AQR so quickly? It seems kind of funny: AQR hates on ML, AQR reconsiders and hires this guy, and pretty much instantly ditches him...bad look for ML. Btw, I think some of this is correct. It still amazes m

More ›