smabie

56 ms·

391.
by smabie 4y ago
Growth investing doesn't mean the market always goes up? It means that you buy stuff that you think will significantly grow in revenue in the future.
392.
by smabie 4y ago
This is literally some no name small OTC desk that caters to the New Zealand retail market. It's success or failure doesn't really mean anything.
393.
by smabie 4y ago
But there is tons of value being captured by closed operating systems?
394.
by smabie 4y ago
Really hard to know the exact breakdown, but there's also a significant amount of institutional activity in crypto too. The recent crash has put a large whole in the balance shit of many trading firms and VCs
395.
by smabie 4y ago
Not to defend Terra but Luna/UST were an absolutely massive part of the crypto ecosystem. It's not some random shitcoin
396.
by smabie 4y ago
Usually OTC desks are seperate and are part of a prop trading firm.
397.
by smabie 4y ago
Alternatively with interest rates higher, buyers might think they can't get a higher return than the interest rate on the mortgage, thus lowering the opportunity cost of paying all in cash.
398.
by smabie 4y ago
What's wrong with crypto futures?
399.
by smabie 4y ago
Feel like this way more of the case in the past than it is now. Engineers at top prop shops today are compensated more much generously than at all but the most senior engineers at a FAANG. For example, word is that new grad hires at Jane St
400.
by smabie 4y ago
Market makers provide cheap liquidity. Or in other words, compare the total transaction costs (bid-ask spread + commission) you would to pay today to trade 100 shares of stock today vs 30 years ago. The difference is staggering.
401.
by smabie 4y ago
50k isn't a ridiculously huge number though? Domains have gone for much much more in the past
402.
by smabie 5y ago
What did you commit each minute?
403.
by smabie 5y ago
Why would you ditch a service for offering you more choice with no real downside?
404.
by smabie 5y ago
Why do you think Elon is more likely to make the product worse than the current management?
405.
by smabie 5y ago
I actually really enjoyed it, makes the story very engrossing imo
406.
by smabie 5y ago
You do? Where? I can name all the most profitable shops and every single one of them is staffed by ex tradfi prop shop guys. edit: actually no, I can think of a couple counter-examples of successful firms started by people with no profess
407.
by smabie 5y ago
1. Takes months/years to develop a profitable trading strategy with a team of people. 3.5/mo on multiple algorithms is kinda laughable. 2. The adverse selection here is really really high: if you could generate alpha, you would fi
408.
by smabie 5y ago
> No other well-paid profession tolerates this style of interview one you have experience. Not exactly true, pretty common in finance/trading as well.
409.
by smabie 5y ago
Doesn't really matter? All about Sharpe ratio not base returns
410.
by smabie 5y ago
Exactly this: speaking from experience fund returns are highly bespoke and depend on the individual LP. People should be very weary of publicly stated returns, especially for VC funds.
411.
by smabie 5y ago
Very recently unless you don't consider any assets on chain to be "real"
412.
by smabie 5y ago
There's tons of NFTs that are valued and traded at 5-6 or even 7 figures. Off the top of my head, cryptopunks, BAYC, ether rocks come to mind. Also by your definition an expensive NFT does have tangible value, I can brag to my friends
413.
by smabie 5y ago
What does tangible value even mean? Something has value if someone somewhere is willing to pay for it. It's as simple as that. Say you could buy an NFT for $1 that is currently valued on the market at $1000 (say, other similar NFTs fro
414.
by smabie 5y ago
Yea definitely, still feels poorly written though.
415.
by smabie 5y ago
Not sure I would call it "hyper" specialized, but Matt Levine's Money Stuff newsletter is probably the best thing I read everyday.
416.
by smabie 5y ago
Maybe what you're not getting was that it was posted on April Fools day?
417.
by smabie 5y ago
re cheap: It's about hedging long tail risk. If you can easily afford it, it's probably a prudent buy.
418.
by smabie 5y ago
Tons of false negative bias here: you can spot some people on speed but you are unaware of how many people who are on speed but you can't spot.
419.
by smabie 5y ago
It's certainly addictive, but it's overblown imo. Like if you stop taking it after regular use you'll feel tired and have an adjustment period for a week or two, but it's not like it's gonna ruin you forever.
420.
by smabie 5y ago
Speed certainly helps everyone become more productive ADHD or not, but it doesn't actually make you smarter (at least in my exp). Also the side-effects of regular use were too severe for me to keep taking it. But damn the first time in

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