smabie

55 ms·

781.
by smabie 6y ago
I always liked 58008
782.
by smabie 6y ago
We have an infinite series such as: S = sum from (i=1) to infinity of [a^i] we can then multiply by a on each side: aS = sum from (i=1) to infinity of [a^(i+1)] Simplify/cancel out to: aS = S - a a = S(1 - a) S = a / (1 - a) where
783.
by smabie 6y ago
The fact that Ed Thorp made such a killing trading warrants suggests that warrent prices were not very efficient before BS.
784.
by smabie 6y ago
I think both articles kind of miss the point: people aren't usually allocating to hedge funds in order to earn monster return. I mean that would be nice as well, but if a hedge fund delivered about the same returns as the market net of
785.
by smabie 6y ago
Moreover, in a highly correlated world it is unsurprising that institutional investors are eager for less correlated sources of return. The problem is actually finding it: as an allocator you are being adversely selected against. If a hedge
786.
by smabie 6y ago
Alternatives don't make up the core portfolio of large institutional investors such as pension funds. Instead, they represent a percentage of the portfolio. The purpose of this percentage is to mix in uncorrelated (or less correlated)
787.
by smabie 6y ago
A simplification, but returns in an efficient market are synthetic: i.e you can target what kind of returns you want wrt volatility. But speaking a little more concretely, markets have been on a tear: stocks, crypto, bonds, whatever.
788.
by smabie 6y ago
Most people go with USB DACs I imagine.
789.
by smabie 6y ago
I don't think people agree on the primary goal. Most people think there is an element of justice and repaying a debt to society. Also keeping them off the streets so they can't do more harm. Certainly rehabilitation comes into pla
790.
by smabie 6y ago
I don't think so, engineers than earn over 500k/year are in the top 1%, do they all have wealth managers? Just because you are in the top 1% doesn't mean you have people aggressively managing your finances and investments.
791.
by smabie 6y ago
But they're not paying the least, they are paying the most (of course, not as much as they are legally obligated to pay). Moreover correctly paying your taxes starts to get really difficult the more and more money you make: income st
792.
by smabie 6y ago
it was a joke
793.
by smabie 6y ago
*salmon
794.
by smabie 6y ago
*Solomon
795.
by smabie 6y ago
Useless? Sounds like you're using it.
796.
by smabie 6y ago
My (and others) livelihood depends on the existence of crypto currency. Seems pretty practical to me.
797.
by smabie 6y ago
This story sounds highly suspect.
798.
by smabie 6y ago
Alpha Beta, Vons and Ralph's... I wonder what town you are referring to
799.
by smabie 6y ago
It can be a more expensive mistake than you think... I would sometimes see Chinese tourists get off at Newark station and always wondered if a) they made a mistake b) they ended up okay. Newark isn't a fun place to be at night.
800.
by smabie 6y ago
What advantage does Rust have over Julia? I can think of a lot of disadvantages, but not many advantages.
801.
by smabie 6y ago
Property and housing has always been an investment. However, I do agree that the terrible yield on risk free assets have significantly inflated housing prices. I also agree that interest rates need to rise, but there unfortunately doesn&#
802.
by smabie 6y ago
I visited my friend a couple years ago who lived in a shipping container in a trailer park. tbqh it was super nice and everyone was super friendly. Seemed like a really solid place to live. My friend loved it to: he made a good salary as a
803.
by smabie 6y ago
What if you think it's right and you think you can get away with it?
804.
by smabie 6y ago
I'm sure lawyers think they try and settle things efficiently as well. The software engineering profession is riff with wasted work: rewrites, new bullshit services and tech, insanely complex clustering and cloud deployments, etc.
805.
by smabie 6y ago
Nice! Definitely being long vol in the current market environment is a good call imo.
806.
by smabie 6y ago
Because someone needs to incorporate it into the price. People are dumb and inefficiencies in the markets abound.
807.
by smabie 6y ago
How are you positioned to take advantage of this? What's your portfolio like?
808.
by smabie 6y ago
You could make the argument (and many people have) that HML and other simple value formulations aren't actually true value opportunities: they are just cheap and often value traps. While I kind of look down at value, I think you can ou
809.
by smabie 6y ago
Not necessarily, the distribution of people's returns have a lot of skew or fat tails.
810.
by smabie 6y ago
Except, of course, not all observable information has been factored into the purchase price.

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