81–90 of 640 posts
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I've adopted the sucker born ever minute attitude since it's all I can do. These fools have the tenacity to be scammed at a rate faster than we can ever hope to do anything about and it's depressing otherwise. Society ends up bearing the cost.
I mean you can also not scam these people
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I've adopted the sucker born ever minute attitude since it's all I can do. These fools have the tenacity to be scammed at a rate faster than we can ever hope to do anything about and it's depressing otherwise. Society ends up bearing the cost.
I mean you can also not scam these people
I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…
The most difficult part about the stock market is that stocks don't move for the reasons people think. People think fundamentals, news, financial performance, or chart patterns matter. But none of it does. Markets are driven purely by supply and demand. And in this case, supply and demand for the stock itself. Fundamentals are already priced in. Financial performance is already priced in. Expectations are priced in,…
The market is not efficent. The fundamentals are only partialy priced in. However finding the times when the difference is significant is not easy.
What you're saying is that it's not infallible as far as predictive power is concerned, which is true. But every current bit of knowledge is definitely priced in.
I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…
The ultimate result of shielding men from the effects of folly is to fill the world with fools. -- Herbert Spencer
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Take a wider view - the people with economic power are generally the people who use it for economically sensible things. Someone who spends irrationally is going to end up with no money. This is a similar process to natural selection - because the unviable strategies are removed, everything that is around is using a viable strategy. This woman was forcing people with unviable financial beliefs (that led to them being…
No, the resources diverted to people with "unviable financial beliefs" were done so in a proper market-efficient way, and would have been spent in perfectly ordinary ways no different from the average person of modest means, if it weren't for the scams. Diverting people's resources to unproductive, antisocial scammers based on arbitrary educational criteria is the only "ruinous" thing in this picture. They are the ec…
At one point I knew I could beat the market with l33t software skills. I was wrong and only realized it after donating about 3k to Wall Street.
That’s peanuts! Congrats for realizing it early
From mine, all I remember was getting the impression that putting money in particular stocks without knowing what you're doing is a bad idea. Pretty valuable lesson, I guess, as I've never bought individual stocks since then...
At one point I knew I could beat the market with l33t software skills. I was wrong and only realized it after donating about 3k to Wall Street.
I can successfully predict the direction of the share price movement 50% of the time and successfully predict the magnitude of the share price movement 0% of the time.
Dupe: https://news.ycombinator.com/item?id=42473081
When an article hasn't had significant attention yet, we let reposts through (after 8 hours) - this is on purpose, to give good articles multiple chances at getting attention.
Of course that leaves the submitters in a bit of a lottery situation, but it at least evens out in the long run if you keep submitting good articles!
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If the gains are huge, it's either temporary luck or they're cheating. You cannot have long term high alpha without either. If you meet a person who can constantly flip a coin heads side up, ask them to keep going and they'll either fail or you'll find the coin is rigged.
“It’s impossible for me to beat the market consistently” does not imply “nobody can beat the market consistently” or “nobody can beat the market consistently for a long enough time to become filthy rich”.