Viewing profile — tpeng

See my reply to waterlesscloud for an explanation. There are some big problems in the defaults, particularly around political topics, however, these are not issues of scale. They a…

It's basically a mathematical guarantee. Reddit shows 200 comments by default, so if there are 20k comments, then you are roughly getting the top 1% of comments. If there are fewer…

reddit has the potential to unlock a lot of value if niche subreddits can achieve critical mass. There are quite a few subreddits that could support highly targeted and valuable ad…

Institutional investors are some of the most conservative investors you will ever meet. They don't have much downside from losing money in a fund that looks "normal", and they don'…

The creation/redemption process is intended for market makers known as Authorized Participants (APs) to arbitrage differences in the ETF price and the underlying price. While, yes,…

The index fund is the greatest investing technology ever invented. The under-adoption of this technology is a behavioral problem. The solution definitely isn't additional layers of…

Many problems in AI, such as NLP, are AI-complete. While it's possible to solve subsets of the problem without creating a human level intelligence (and many companies have done so)…

Very few people even bother to track calories. Some people do have trouble sticking with it, but for most, the eureka moment happens sometime in the first week when they realize th…

Calorie logging is actually probably the best solution to the psychological problem. Your stomach is saying to your brain that it is hungry and that you must eat. Sometimes you mig…

I've met a lot of people who say that calorie counting doesn't work, but I haven't met a single person who consistently and meticulously counted calories over a long period of time…

I think special situations and value are both enduring strategies that can exhibit high return / low risk potential.

The cliche among hedge fund guys is to be "long term greedy" not "short term greedy", which explains why some funds try to be more investor friendly with fees. You also have flukes…

Funds frequently return capital or close to new money in order to stay below their investment capacity. Funds also sometimes charge less than the maximum they can get away with for…

I didn't say hedge funds shouldn't be benchmarked to their appropriate index, I said that hedge funds as a whole shouldn't be benchmarked to the S&P500 because they're not all equi…

Investing in stocks is more labor-intensive than investing in funds. I can identify a few great managers that will do very well over time, write them a check, and be done. By your …

It's mostly irrelevant. No one is investing in the hedge fund average, they are investing in the hedge funds that they think will do well. It's actually the same if you look at VC …

The Werther effect could be another explanation for clusters of airplane crashes: https://fc.deltasd.bc.ca/~dmatthews/FOV2-00074762/S02DB0598....

$1 billion is only about 3% of the deal price. It's not that high considering the regulatory risk.