Blows my mind that the US is about to host its second World Cup and a real hotbed of football, the UK, hasn’t been trusted with one since 1966
Joke really, and a corrupt one at that
Nassim Taleb told a room full of fund managers: not one of you will ever get the returns of the market
Two decades a trader before he touched theory - and his whole point is that survival, not return, is the game almost everyone misprices.
"Take all the risk you can - but make sure you're in tomorrow"
"You don't cross a river that's three feet deep on average"
"Once you hit ruin, the casino's edge doesn't matter - you're gone"
bookmark and watch it today - 39 minutes on ruin, paranoia, and why surviving beats being right ↓
“The students who cannot read a 20-page article today are the voters who will not be able to read a bill, or the jurors who cannot follow a closing argument, tomorrow.”
one of the quotes i find most inspiring on a hard day:
"Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom"
Ecclesiastes 9:10
Joburg’s tariff increases gravely undermine the Bank’s efforts to rein in inflation, and compound the misery of higher interest rates.
Tap the 🔗 to learn more from @ChrisHatt11.
https://t.co/JEr5qbhwo5
"If Arsenal are unpopular with neutrals, it’s because they waste everyone’s time. Not just their opponents’ time, but our time too. Football fans everywhere are suffering Arsenal’s consequences. They are like a company that spews pollution into the environment in their production process, privatising the profits and socialising the costs. To them, dumping toxic sludge into the river is just free waste disposal. It’s the rest of us who get a headache when we drink the tap water" https://t.co/PHpC1FRgv7
Literal minded people (who have no understanding of humour) should not be dictating what people with a sense of humour are allowed to laugh at
It's like having a blind person create a colour chart
If you have under $10 million and you are buying Apple, you have voluntarily entered the one fight in all of public markets where you have no edge, no advantage, and no reason to exist.
There are 40 PhDs, three sell-side teams, and a sovereign wealth fund modeling Apple’s next quarter to the penny, and you, with your brokerage app and your podcast opinions, have decided to join that table. You will not find a mispricing in Apple. The mispricing in Apple was arbitraged away before you finished reading the headline.
Meanwhile there is a $90 million industrial parts distributor in Wisconsin that no analyst covers, no fund can buy because the position would take six weeks to build, and no institution will touch because it would not move the needle on a billion-dollar book. That is your table. That is the only table where being small is an asset instead of a punchline. Your size, the thing that feels like a limitation, is the single greatest structural edge available to a human being in public equities, and you are spending it on the most picked-over stock on Earth.
The big funds cannot follow you down here. That is the entire point. Go where they physically cannot fit.
almost every city in the country now sits atop a system in which a minority of highly-productive young people are expected to work away their best years around the clock, just to cover rent, while giving away half their income to crazy people, criminals, and bureaucrats.