At a time when so much what we read is rage bait or trolling, may I ask you to watch this 7-minute video from a talk I gave about a teacher of mine. I hope you'll find it uplifting and funny -- and maybe even moving.
https://t.co/BCQPhk6AZ9
“97% of equity returns explained by liquidity” is the weakest empirical claim. Correlate any two things that rise over decades and you get high R². Real econometric work (detrending, first-differencing) gives a much messier, lower, and less stable relationship.
Grok Imagine prompt:
A vivid painting combining the styles of Salvador Dalí, Vincent van Gogh, and Pablo Picasso, showcasing a cubist figure with elongated, surreal limbs dancing under a turbulent, starry sky painted with thick, expressive Van Gogh-esque swirls
There will be all kinds of hot shot young guns who will strongly disagree with me here, but as a chartist who has made a living and built net worth trading futures markets since 1975 I will share my opinion that I do NOT think price of anything can be predicted based on price charts. Anybody who strongly disagree has not either traded enough years or has not really risked their entire net worth on a trading career (as those of us in the 1970s and 1980s needed to do). So, those in disagreement, flash your ads for your YouTube channel -- I won't believe a word you say. The value of charts is to identify certain select situations offering asymmetric R:r set ups with defined risk - and that's it.
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https://t.co/Wb9ghorNvL
A lot of Fresh longs were built on the market yesterday. A lot. By few players.
100% chance that these players knew about the Nation Crypto strategic reserve announcement.
Surprising? No. Unfair? Always has been.
Sometimes I think the AI community creates jargon to obscure rather than illuminate. If you say the objective is to maximize likelihood, all the newbies would understand. If you say the objective is to minimize cross entropy (for a classification task), half of them won't. But the two the equivalent.
Many are using charts for prediction.
This is diminishing the value of charts and technical analysis.
Charts are a tool to listen to what the market is telling you. Many of us are very bad listeners. We want to talk, constantly. We want to voice our opinion, thinking that it must be right.
@DAcemogluMIT And it is likely you will be wrong. All the assessments depend on the modeling assumptions (and those from your camp are often highly unrealistic). And what if he carries out policies that would induce growth and equity, given that it is his last chance to make a (good) history?!