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quantie


Total Posts: 883
Joined: Jun 2004
 
Posted: 2016-09-11 01:30
Taleb's commencement address some good stuff from Taleb.

chiral3
Founding Member

Total Posts: 4984
Joined: Mar 2004
 
Posted: 2016-09-11 01:55
I read it only because I respect you quantie, but wtf? The only time I've been entertained by Taleb is when I've been sitting at a dinner table with him worked up into a lather and making an ass out of himself. He's a fucktard, the Perez Hilton of finance. A Cassandran megalomaniacal Michio Kaku. Dynamic Hedging was a rambling, unedited stroke of genius, mainly because he was first, which counts for something. From his address:

"One should never do anything without skin in the
game. If you give advice, you need to be exposed to
losses from it. It is an extension to the silver rule. So I
will tell you what tricks I employ.."

I fail to see when, if ever, he's had skin in the game.

Nonius is Satoshi Nakamoto. 物の哀れ

mtsm


Total Posts: 193
Joined: Dec 2010
 
Posted: 2016-09-12 03:34
Why are you getting so worked up over this guy?

He is an incorrigible narcissist, he will never change and will always find friends buying into him (https://www.amazon.com/Art-Thinking-Clearly-Rolf-Dobelli/dp/0062219685/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1473643844&sr=1-1).

There are so many of these people just about everywhere (academia, finance, this forum, etc...).

http://well.blogs.nytimes.com/2016/07/18/the-narcissist-next-door/
http://www.lemonde.fr/sciences/article/2016/09/05/bruno-lemaitre-le-systeme-de-recherche-favorise-les-personnalites-narcissiques_4992765_1650684.html

Martinghoul


Total Posts: 848
Joined: Oct 2008
 
Posted: 2016-09-12 15:03
Strange, best of luck... I wish I had some bright ideas for you; will ping you when I am in your hood next.

Insofar as I may be heard by anything, which may or may not care what I say, I ask, if it matters, that you be forgiven for anything you may have done or failed to do which requires forgiveness...

quantie


Total Posts: 883
Joined: Jun 2004
 
Posted: 2016-09-25 23:01
Hi C3 just saw this. I am not saying agree with everything in that speech, but always find some original thinking. I told him recently that the best book he wrote was DH and it has been downhill since. He is now really in to dead lifting and twitter feuds.

Kitno


Total Posts: 340
Joined: Mar 2005
 
Posted: 2016-09-25 23:17
Strange I read your original post a few times over the last few months. I think you want a rest for a few months and to get out of the market (you mentioned being burnt out).

The buyside won't give you respite - it's fucking hard graft without the information flows (HF not RM anyway).

If you have the cash reserves and can consider setting up your own firm I would spend the next 6-12m in a seat considering what technology solutions you can bring to your market and who you need to achieve it as well as the investment.

98% of the fintech statups are utter shite so I would advise against courting a senior role there - especially as your upside is around 5% equity say. You're not lucky enough to hit the 2%.

Away from trading, sure, there's jobs but you won't get paid. You won't get the intellectual competition you crave (chuckle as much as you want) and most of all you will miss the work ethic. For you it's either trading (buy or sellside) or setting up your own firm.

Salut toi, je vais au Social Club avec des amis ce soir, c'est au 142 rue Montmartre. J'ai mis ta robe préférée. Viens me trouver.

chiral3
Founding Member

Total Posts: 4984
Joined: Mar 2004
 
Posted: 2016-09-26 13:33
When you say "dead lifting", you mean like with weights? Like just deadlifting? Not the trinity of deads, squats, and benches, but dead lifting? If I had time I'd photoshop a black swan zero repping a xfit bar.


Nonius is Satoshi Nakamoto. 物の哀れ

katastrofa


Total Posts: 357
Joined: Jul 2008
 
Posted: 2016-10-20 22:48
"Away from trading, sure, there's jobs but you won't get paid. You won't get the intellectual competition you crave (chuckle as much as you want) and most of all you will miss the work ethic. For you it's either trading (buy or sellside) or setting up your own firm."

I disagree. There is still plenty of academic groups where intellectual competition is at levels we here in finance can only dream about (the trouble, of course, is getting in - and salaries *will* be lower). And as for work ethics, the idea that finance somehow excels in it has been buried long time ago (by the time they put the LIBOR rigging guys in jail, at the latest).

Working in finance ties you to a relatively small number of places to live in, too.

jslade


Total Posts: 1064
Joined: Feb 2007
 
Posted: 2016-10-21 02:12
"When you say "dead lifting", you mean like with weights? Like just deadlifting? Not the trinity of deads, squats, and benches, but dead lifting? "

It's pretty obvious from the photos he skips leg day:
https://i.imgur.com/85mwSki.png

I disapprove of skipping leg day unless you have knee problems, but for old guys, deadlift plus press is a decent low time investment regimen, and he is halfway decent at deadlifting.

Main harm he seems to do these days is do risk management seminars. The popular stuff seems to have steered away from saying dumb things about finance.

"Learning, n. The kind of ignorance distinguishing the studious."
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