leelin

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121.
by leelin 16y ago
How about if the children are competent AND they receive the money? At the risk of having spoiled kids, might this potent combination bring us another Warren Buffet or Bill Gates? Sure it might not be fair, but children who inherit get a n
122.
by leelin 16y ago
I agree, the better title seems to be "Stop Shitting on Wall Street Employees". For the defense of Wall Street, a small start might be the capital marketplace argument: http://news.ycombinator.com/item?id=973663
123.
by leelin 16y ago
I can't speak for bankers, but I can confirm a similar situation from my hedge fund days. I interviewed lots of interns and junior full-time folks who worked in IT or infrastructure groups supporting trading desks. They all claimed it was
124.
by leelin 16y ago
Does anyone have concrete data points on how and what recruiters are paid? The data point I heard for the finance industry was 25% of base + guaranteed bonus (but not signing bonus or discretionary bonus). I have no idea how the rules chan
125.
by leelin 16y ago
My guess is real estate will be disrupted long before Wall Street. Having worked in both finance and real estate, the parallels between real estate transactions and I-banking deals are shockingly similar, only I-banking deals are much more
126.
by leelin 16y ago
What a great name with a nice inside-joke component! The first question that went through my mind was "did they used to work at Amazon?" Was PagerDuty.com available or did you guys have to buy it? It's a similar level of cleverness as Lob
127.
by leelin 16y ago
Maybe the perception of a huge safety net is more important than the actual assets. The common theme among all definitions of FU money seems to be freedom from fearing we'll go hungry and relief from risk averse behavior like holding on to
128.
by leelin 16y ago
Heh, here in NYC, even the debt-laden, paycheck-to-paycheck folks do 1-6 1.) FreshDirect - $99 a year for free grocery deliveries 2.) Any corner dry cleaner - $10 a week to drop off two loads of dirty laundry on the way to work. Your doorma
129.
by leelin 16y ago
Weird, isn't your comment a bit self-contradicting? Above the <hr> fold: "Stop the loser talk. You can learn from others' mistakes. Your fate is not sealed." Below the fold: "Track record is king. It's all DNA. People don't chang
130.
by leelin 16y ago
My view is everyone is built and wired a little differently. I love these behavioral management studies too, but certainly there exist people who can stay very productive at the 80 hour a week mark for a few years. If the professor mention
131.
by leelin 16y ago
I'll call some BS on the stock price affect... after some quick Googling this article seems to pinpoint the exact date: http://www.healthdatamanagement.com/news/4296-1.html Comparing CERN stock vs the S&P500, Dow Jones, and a related
132.
by leelin 16y ago
Cool, the post describes how to build a Nondeterministic Outsourcing machine to solve your programmer problems... just fork a whole bunch of jobs trying to solve the same problem and then pick the one that turns out best! Sarcasm aside, I l
133.
by leelin 16y ago
I don't follow. Say a startup comes along and I think the entire idea, space, and sector is doomed to failure. The whole market is a no-go. I can't get rich off the ones I decide will be failures, and it's possible for an entire sector to
134.
by leelin 16y ago
That accounts from some ways startups can be negatively correlated, but for the purposes of billionaire founders making the Forbes 400, I still say they are all hugely correlated to market conditions that enable crucial funding rounds, M&#3
135.
by leelin 16y ago
I don't blame the college kids. At least right now, our capitalist society deems their brains are better spent finding the next good $10M trade as opposed to helping ship Office 2010 or becoming grad students in math / physics / CS.
136.
by leelin 16y ago
Can we explain this by saying many hedge funds are negatively correlated, along with survivor bias? This is a huge simplification, but consider for every four hedge fund managers, one goes long the market, another short the market, another
137.
by leelin 16y ago
Are today’s crop better players? Or like the economy, are Elo ratings subject to bouts of inflation? Players leaving the system is one of the major sources of rating inflation in chess. Even when rating changes of any single gam
138.
by leelin 16y ago
In other shocking news, bankers don't do their own PowerPoint slides either... There are people employed full time to do just that. You mean associates and analysts? They at least fall under the category of "junior banker" and
139.
by leelin 16y ago
I agree with you, and in cases where the HFT bot gets no special privileges, then they are under absolutely no obligation to be there when hell is breaking loose. Why is everyone so mad at the bots for playing it safe and deciding not to t
140.
by leelin 16y ago
There are a few "flaws" to this solution actually, although the flaws are in assumptions + bayesian vs. frequentist philosophy differences. The solution mentioned in the link solves a different problem: You get a sample of K ints uniform ra
141.
by leelin 16y ago
The near instantaneous drop of 700 points is exactly why you need market makers. In normal times, dozens of computer algorithms are posting bids to buy and offers to sell stock, at slightly more profitable prices than what their algorithm
142.
by leelin 16y ago
The article itself is quite interesting, but I almost skipped the video, which is at least as amusing! It was worth the watch.
143.
by leelin 16y ago
A neat twist to the standard pro-rata division we see a lot in bankruptcies. What I like best is this method penalizes the creditor for extending too much credit. Note that the ones who are hurt most by the divide-contested-amount method a
144.
by leelin 16y ago
joshu wrote: opportunity = preparation - luck ? I think you missed a -1 on one side of the equation. :P Opp = Luck - Prep actually makes a bit of sense... it's the fortunate event component without the taking-advantage-of-it componen
145.
by leelin 17y ago
Isn't their logic confusing latency and throughput? Not enough mail to deliver suggests less mail volume, so less need for throughput, therefore we can hire fewer postal workers per post office. Cutting out one day of deliveries reduces thr
146.
by leelin 17y ago
I thought short-term gains were taxed with rates similar to ordinary income. Do you mean long-term capital gains?
147.
by leelin 17y ago
How about the talented people who are exceptional at their jobs, content with their cushy lives, and stick around even though they aren't learning as much anymore? They enjoy being a trusted go-to person on many matters and stimulate thems
148.
by leelin 17y ago
I'm confused by the angry tone. I thought investors are paying entrepreneurs to give it their all and earnestly take big calculated risks. Both the founders and investors are buying an out-the-money call option on success, so maximizing v
149.
by leelin 17y ago
Seems like it'll get the same treatment as the Segway. Lots of places banned Segways from sidewalks... Jetpacks certainly need to be banned from pretty much anyplace where it would be worthwhile or incredibly fun?
150.
Joel Spolsky to stop blogging; shares insights from JoelOnSoftware success
90 points by leelin 17y ago|30 comments

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