Hacker News Reader

testval123on Hedge Funds Are Pocketing Much of Their Clients' Gains with 'No Limit' Fees

The purpose of a hedge fund is to ‘hedge’ ie deliver alpha and not index beating returns. Obviously the fee issue is another layer.

testval123on The Surreal Magnificence of Fatherhood

There is IMMENSE value in having siblings, particularly later in life when you yourself have kids. Especially if they are in the same city.

testval123on My second year without a job

That is privileged take. The things we take for granted in a 'prosperous' society- food on grocery store shelves, doctors available in the ER, plumbers to fix your plumbing, etc. etc. all require people to work 'standard' hours and follow 'standard' paths. The path of the 'creative' tech worker taking two years off is incredibly privileged, and I would argue infantilizing.

testval123on I Am Tired of AI

Have you taken a Waymo recently? I would take it over a human driver much of the time.

testval123on The First Hedge Fund

It’s also interesting that Thorp met a young Ken Griffin and gave him some advice/materials in starting out.

I don’t think a young Ken Griffin of today would get that same access.

testval123on What happens in the brain to cause depression?

Because they are objectively quite a bit worse off than older generations? Education costs, housing costs, job stress, increased competition for a 'middle class life'...

testval123on High housing costs may be California's biggest problem

So many people 'want' a correction that it's clear there is a ton of demand. Ergo, I wouldn't be too hopeful.

testval123on Generational Luck in the Housing Market

House prices went down in the 80s (although were still quite unaffordable). Additionally, those who bought in the 80s got the ride the gravy train of lowering rates over the decades which massively boosted prices and allowed them to refinance.

testval123on Generational Luck in the Housing Market

It takes years to plan, get permits / financing, and build homes. It takes days/weeks to submit a bid or refinance a house.

testval123on Generational Luck in the Housing Market

The FED implicitly transferred trillions from poorer renters and young people to wealthy older homeowners.

testval123on Fisker's Ocean SUV investigated for doors that won't open

If my car is on fire I sure as heck don't want to rely on an electrical door release

testval123on How can Robinhood afford 3% cash back on its new credit card?

There are no annual fee 2% cards without any hoops. If you don't care about the other perks for Robinhood Gold, the break even would be $50/.01 = $5000 of spend.

testval123on Rich People Don't Talk to Robots

Financial advisors generally charge a flat management fee (for example 1% of AUM).

Hedge funds generally charge a management fee plus a performance fee. This is why hedge funds and other similar structures are much more lucrative and acquire more talent.

testval123on Most demographers now predict that human population will plateau

People will just start really like the idea of having children and will consciously do so