@VolatilityVIX@D2_Finance I don’t think fixed income under performing in 2022 should have been at all surprising. Valuation does not always drives results, but valuation affecting results should not be seen as a surprise.
@VolatilityVIX I don’t recall him being unkind to someone purely because they were a lower level of understanding. He was kind of hard on people whose business model was selling providing low/no value stuff that was essentially exploiting the un/under educated. Sometimes the 2 sets intersected.
@johnarnold I live in city with same democratic socialist mayor for third of last 40 years. It’s been planned/developed in large part by one of the most influential real estate companies in the country.
Safe (tops fbi list), top schools, property values ⬆️
Partnership works
@Merridew__ If it’s just 2 competitors. I am sure they can collude to charge premium prices. They do not have to violate law. There are enough game theory profs who would teach them how to signal effectively to produce a collusion type outcome.
@dampedspring@Merridew__ I made a bunch of money doing stupid things in dotcom. What kept me from losing my shirt was every day opening Galbraith’s “Great Crash of 1929” to a random point and reading a few pages.
I 35x-ed my initial (meager) investment; lost more than half of that and cashed out at 15x
I was a fly on the wall when Noel Chriss first described this problem to Rob Almgren. I was an intern at Morgan Stanley (in Chicago) working for Niel. he would periodically come down to meet with us & took us along in his meetings with other UChicago faculty/PhD types.
This is the rarest piece of HFT content on the internet - Robert Almgren walking through a real execution trade tick by tick
He's the co-founder of Quantitative Brokers and the man who wrote the Almgren-Chriss model - the standard execution algorithm used at Goldman, Citadel, Two Sigma
In this lecture he shows a live order from May 14 2018, every fill, every limit, every market reaction across 2 minutes and 40 seconds
The article above is that exact same thinking applied to Polymarket - measure your edge in bits before you place a single trade
Bookmark it & give it a watch tonight ↓