ruang

Tip - I also use Notes and I change the default account to gmail so I can recover accidental deletions.

Does anyone know what does Jack Dorsey use exactly? Evernote would make sense although he didn't say so specifically.

I love the idea of being able to interact with the authors as they write the book.

Great way to view "data science". Augemented intelligence will usually beat artificial intelligence.

It seems like all the low hanging fruit has been arbitraged away. I've worked with a Math PhD from Princeton before in prop trading and he always lost money.

I understand high-frequency is mostly stat arb but I haven't heard of too many quant funds that do mid/low frequency. I've seen one present before that used small changes in portfolio optimization to get an alpha of ~0.2% over the benchmark but that didn't seem too useful.

I would guess that might be the case since pure arbitrage no longer works and thus quant funds have to delve into more probabilistic strategies like stat arb.

People need to spend less on status/signaling goods, and more on creating real value. Spend less on investing/speculating on things you have no control over.

To paraphrase Tim Ferriss: Wealth is what is left over when all of your money and material goods are taken away from you.

She seems to be confusing skills (something you can learn) with talent (something you are born with).

It includes:

Some now vs More later

Random vs Determined

Proximity vs Scale

Training vs Battling

Loyalty vs Universality

Sure Bet vs Shot in the Dark

Switching Costs vs Change Gains

Offense vs Defense

*Efficiency vs Predicatability

In other words, the more your ability is tested, the more likely your results are closer to the expected value as randomness negates itself out.

This sociological phenomenon was named after a verse in the bible: For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away.

-Matthew 25:29, New Revised Standard Version.

Nassim Taleb also talks about cumulative advantage in his book Black Swan.

If mutual funds and hedge funds are not permitted to guarantee returns, then neither should pension funds.

-Innate talent > Practice. Painful to admit, but better if you can own up to your weaknesses early on and focus things you are better at.

-Extensive practice only applies to single tasks, not complex activities such as business which requires being good at multiple disciplines plus coordinating and understanding the interaction between those disciplines

Once you hit late 40s to 50s, people won't pay you a high salary for a typical line position.

So at that point, you either continue to work for low wages, possibly being shifted within the company to doing sales on commission, being a trainer, or moved to a low-wage country.

Or you are independently wealthy by then.