Ajit

Market enthusiast

[Ajit @singh_ajeet]

@RevolutionMonk @NagpurKaRajini Listen to the original by Mussarat Nazir, also the remix version by kazinama

[Ajit @singh_ajeet]

@__paleologo You missed the Terminator

[Ajit @singh_ajeet]

@Akshat_World So called hedge fund is not even hedging

[Ajit @singh_ajeet]

@ManMilk2

[Ajit @singh_ajeet]

@Random_Gyan @hktg13 @NChanduka Another view or data point suggesting the same

[Ajit @singh_ajeet]

@SridharanAnand @SandeepParekh Sri and sandeep should be invited to Board of Tease

[Ajit @singh_ajeet]

@NoLimitGains Fake news

[Ajit @singh_ajeet]

"Investing is a contact sport, and most macroeconomists disdain mud."

[Gappy (Giuseppe Paleologo) @__paleologo]

Worth expanding on the subject of macro with some *lived experience*; please note I am not picking on you, and I am not 100% ok making it about me. But on the weekend when Lehman failed, I was at the Moody's credit conference (because I was developing default credit models for IBM Global Financing). Speaker after speaker, including famous macroeconomists, extolled the virtues of securitization. Hardly a bip on the train-wreck that was 2008. James Grant was there and talking about the end of the world (as always), but making jokes (as always) and not being taking too seriously (as alwasy). Worth remembering that the WEF program in 2008 didn't even mention the credit crisis (I think traces of it were removed). Larry Summers publicly ridiculing Raghu Rajan for mentioning mortgage risk. The macro consensus was, yes, there is a problem (of course!), but it's not *this* big. There is an intellectual laziness+narcissism, and unctuousness in macro sell-side-like stuff that I find objectionable.
Meanwhile, I used to meet low-level bank credit managers and risk managers in 2007. They were all panicking for mono-lines, for the complication of the products (like a manager noting that a bank owed $50m to itself via circular contracts, and not booking the liabilities of course). Worth recalling that Falcone and Paulson didn't make their profit from some macro forecast, but simple bottom-up spreadsheets.

My point is simple and obvious. Investing is a contact sport, and most macroeconomists disdain mud. If you want to learn what the macro risk are, do bottom-up research. Talk to people on the ground. Maybe identify some obscure X account with 500 followers, by someone who might actually know things. The hyper-paid experts on networks don't pore over dirty data in spreadsheets, do not approve loans, do not open the doors of statesmen and hear the fragmentary piece of news. They talk to investors for $10K/hr.
You can listen to macroeconomists. But only to calibrate on what the consensus is, and develop variant ideas. The best macro investors are usually not macroeconomists.

Going back to my OP, I was not even referring to *that*. I was just mildly ranting about the lazy identification of "rotations" in perfect brownian motion, and non-structural seasonality, and ad hoc technical analysis, and all the brain rot that makes actually good investors a little less effective.

[Ajit @singh_ajeet]

@Kuntal__biswas Amazing rendering, such a peaceful music

[Ajit @singh_ajeet]

@abcampbell

[Ajit @singh_ajeet]

@Iamsamirarora Only akshat does , because he has an MBA from top 3 uni ( so called )

[Ajit @singh_ajeet]

@barbarindian Let that sink in

[Ajit @singh_ajeet]

@greatbong Had the same intuition while watching, googled the director, and your description is quite apt .

[Ajit @singh_ajeet]

@AdityaRajKaul "This is anti Pakistan rhetoric" :)

[Ajit @singh_ajeet]

@Punit_Pania @PadmajaJoshi People living in naalasopora talking about Nuremberg

[Ajit @singh_ajeet]

@ReelReptile

[Ajit @singh_ajeet]

@film_waala

[Ajit @singh_ajeet]

@ThePuccaCritic

[Ajit @singh_ajeet]

@maxtempers @Tim_ODoherty “Show me the incentive and I'll show you the outcome” -Charlie Munger's

[Ajit @singh_ajeet]

@RestIsPolitics @ZackPolanski @RoryStewartUK @campbellclaret