progressive_realist
(669 posts)
Send PM |
Profile |
Ignore
|
Wed Nov-26-08 06:05 PM
Response to Reply #33 |
| 53. Based on this and your previous post... |
|
It seems clear that success in the market is more a matter of luck than intelligence. Lots of people knew this market was headed for disaster, but nobody knew exactly when. With enough participants, someone was bound to guess right. Shouldn't really give them bragging rights.
In fact, it seems like a waste of resources to have so many of our brightest minds employed in an industry where success and failure are a matter of rolling the dice.
|
| -I Just Realized That I'm Smarter Than I Think I Am... Probably You Are, Too |
TygrBright |
Nov-26-08 02:19 AM |
#0 |
 -
Reading your thread just made me wish I could rec it several dozen times |
truedelphi |
Nov-26-08 02:36 AM |
#1 |
 -
Yeah, that was fun, and true. |
napoleon_in_rags |
Nov-26-08 02:43 AM |
#3 |
 -
I'm Willing to Bet They Can't Even Cook or Clean for Themselves |
Demeter |
Nov-26-08 03:58 AM |
#6 |
| -
haha, you are so right! |
Lucky Luciano |
Nov-26-08 11:05 AM |
#22 |
| -
One: I'm not a he. Two: Google "Steve Eisman" |
TygrBright |
Nov-26-08 11:27 AM |
#25 |
| -
Was Eisman an early warner, or part of the problem? My problem is that |
truedelphi |
Nov-26-08 12:13 PM |
#29 |
| -
Steve Eisman FrontPoint. |
TygrBright |
Nov-26-08 12:17 PM |
#31 |
| -
One thing that is very sad about all this is when you have |
truedelphi |
Nov-26-08 01:32 PM |
#45 |
| -
Of course someone shorted the top of the market |
Lucky Luciano |
Nov-26-08 12:28 PM |
#33 |
| -
How is playing the market different from gambling in a casino? |
BrklynLiberal |
Nov-26-08 02:25 PM |
#46 |
| -
Here's the difference in one short sentence: |
truedelphi |
Nov-27-08 01:20 PM |
#64 |
| -
You are playing for postive expected values |
Lucky Luciano |
Nov-27-08 09:41 PM |
#68 |
| -
Based on this and your previous post... |
progressive_realist |
Nov-26-08 06:05 PM |
#53 |
| -
Do you mean John Paulson or Hank Paulson?? n/t |
truedelphi |
Nov-27-08 01:15 PM |
#63 |
| -
Hank is not shorting the top of the market. John Paulson owns Paulson & Co. |
Lucky Luciano |
Nov-27-08 03:35 PM |
#65 |
| -
Eisman figures in this article by Michael Lewis, who apparently wrote a book called "Liar's Poker": |
KCabotDullesMarxIII |
Nov-26-08 12:20 PM |
#32 |
| -
Liar's poker is a great book and required reading for traders. nt |
Lucky Luciano |
Nov-26-08 12:29 PM |
#34 |
| -
I expect it helps you to keep your sanity, confirming that your intelligence and |
KCabotDullesMarxIII |
Nov-26-08 01:12 PM |
#42 |
| -
Or wipe thenselves. Just sayin |
rhett o rick |
Nov-26-08 11:03 PM |
#56 |
| -
Not me. |
GoesTo11 |
Nov-26-08 02:41 AM |
#2 |
| -
mmmm.... I love the smell of anti-intellectualism in the morning. |
BlooInBloo |
Nov-26-08 03:01 AM |
#4 |
| -
have i told you lately that you're a fucking genius? |
unblock |
Nov-26-08 05:18 AM |
#9 |
| -
Great post K&R |
RandomThoughts |
Nov-26-08 03:33 AM |
#5 |
| -
It's the Ethics, as Well as the Intelligence |
Demeter |
Nov-26-08 04:01 AM |
#7 |
| -
well golly gee. try explaining "money" in simple terms. terms you can understand. |
unblock |
Nov-26-08 05:16 AM |
#8 |
| -
Just....? under(-regulated)....? some.....? Move over Karl Rove. Your time is up. |
KCabotDullesMarxIII |
Nov-26-08 05:56 AM |
#10 |
| -
lol and look who's using rovian debate tactics! |
unblock |
Nov-26-08 06:20 AM |
#11 |
| -
Since when did Rove speak the truth? Tell me more. I'm fascinated. Be back a bit later. |
KCabotDullesMarxIII |
Nov-26-08 06:37 AM |
#12 |
| -
Rove should be so lucky. He twists truth. I don't even have to rebut |
KCabotDullesMarxIII |
Nov-26-08 10:53 AM |
#20 |
| -
i see you've gone back and edited your post #10 |
unblock |
Nov-26-08 11:18 AM |
#24 |
| -
I'll do my best. Thanks for the encouragement. All the more noble for being |
KCabotDullesMarxIII |
Nov-26-08 12:08 PM |
#27 |
| -
So, there's no Ponzi scheme? Well that's a novel insight. Iconoclastic even. |
KCabotDullesMarxIII |
Nov-26-08 12:13 PM |
#30 |
| -
ah, if only sarcasm were a hard currency. |
unblock |
Nov-26-08 12:51 PM |
#37 |
| -
"ah, if only sarcasm were a hard currency." You leave an ugly suspicion that |
KCabotDullesMarxIII |
Nov-26-08 01:09 PM |
#40 |
| -
The truth of the global economy |
bongbong |
Nov-26-08 08:49 AM |
#13 |
| -
yup and yup. (nt) |
w4rma |
Nov-26-08 09:23 AM |
#14 |
| -
The idea was |
onlyadream |
Nov-26-08 09:38 AM |
#16 |
| -
There's no free lunch. |
jfkraus |
Nov-26-08 09:25 AM |
#15 |
| -
Bottom line--For over 30 years.... |
michigander3 |
Nov-26-08 10:12 AM |
#17 |
| -
I have a relative that works for Citibank |
wilsonbooks |
Nov-26-08 10:35 AM |
#18 |
| -
Only the top dogs know the overall risks at the bank...so |
Lucky Luciano |
Nov-26-08 11:11 AM |
#23 |
| -
Michael Lewis roundly rebuts your assertion, claiming instead that they. |
KCabotDullesMarxIII |
Nov-26-08 12:31 PM |
#35 |
| -
I was referring to Citibank, but Lewis was referring to some tiny dipshit financial inst. |
Lucky Luciano |
Nov-26-08 12:49 PM |
#36 |
| -
Thank you. That was very interesting. I'm just re-reading Michael |
KCabotDullesMarxIII |
Nov-26-08 12:52 PM |
#38 |
| -
you. are. brilliant. |
Left Brain |
Nov-26-08 10:41 AM |
#19 |
| -
aw, thanks... feel free! n/t |
TygrBright |
Nov-26-08 11:01 AM |
#21 |
| -
A letter by a Paul Sousek, in today's UK Daily Mail, with the heading, "Don't send good money |
KCabotDullesMarxIII |
Nov-26-08 12:07 PM |
#26 |
| -
Somewhere, someone is buying a lottery ticket right now. |
Gregorian |
Nov-26-08 12:11 PM |
#28 |
| -
Close but no cigar... |
ElboRuum |
Nov-26-08 01:05 PM |
#39 |
| -
PhDs are likely to have very high IQs |
Lucky Luciano |
Nov-26-08 01:09 PM |
#41 |
| -
Unfortunately, Lucky, even then most cerebral guys can have such half-witted |
KCabotDullesMarxIII |
Nov-26-08 01:27 PM |
#44 |
| -
You are right |
BrklynLiberal |
Nov-26-08 02:46 PM |
#47 |
| -
Thanks for those gems, Brklyn Liberal. Loved the opening sentences |
KCabotDullesMarxIII |
Nov-26-08 04:08 PM |
#48 |
| -
I cannot hlep but think that their inability to "look into" what was going on, was based on the |
BrklynLiberal |
Nov-26-08 05:20 PM |
#49 |
| -
You and the rest of us, I dare say. |
KCabotDullesMarxIII |
Nov-27-08 10:30 AM |
#62 |
| -
Who says Greenspan is among the "most cerebral guys"? |
dbmk |
Nov-26-08 05:37 PM |
#50 |
| -
Well, he appears to have a Phd and to have enjoyed high office |
KCabotDullesMarxIII |
Nov-26-08 05:47 PM |
#51 |
| -
Frickin Greenspan lives in a bubble. He needs a good dose of reality or the clap. Just sayin. nm |
rhett o rick |
Nov-26-08 11:02 PM |
#55 |
| -
".... or the clap." Now that's a riotous imagination! |
KCabotDullesMarxIII |
Nov-27-08 08:22 AM |
#60 |
| -
I hear a lot of what you are saying... |
Lucky Luciano |
Nov-28-08 08:30 AM |
#70 |
| -
And PHD's aren't necessarily Smart |
12string |
Nov-27-08 02:44 AM |
#58 |
| -
Almost all PhDs pay their own way. |
Lucky Luciano |
Nov-28-08 08:17 AM |
#69 |
| -
You are right!!! You are a g'damn genius! Not just because you figured that all out, but also |
BrklynLiberal |
Nov-26-08 01:18 PM |
#43 |
| -
My BIL tried explaining it all to me. |
knitter4democracy |
Nov-26-08 05:53 PM |
#52 |
| -
Damn you, I don't want to be smarter. I drink especially to help numb this schtuff. |
rhett o rick |
Nov-26-08 11:01 PM |
#54 |
| -
I would like to add a caveat..... |
OwnedByFerrets |
Nov-27-08 12:17 AM |
#57 |
| -
Wonderful its all one big Nigerian 419 scheme........ |
Historic NY |
Nov-27-08 07:08 AM |
#59 |
| -
I've pretty much lost faith with |
eilen |
Nov-27-08 08:59 AM |
#61 |
| -
I've been thinking about the new 8 trillion number for days now and I'm coming to a conclusion |
Joanne98 |
Nov-27-08 03:36 PM |
#66 |
| -
50 Trillion is not the amount of money various banks owe from CDS exposure |
Lucky Luciano |
Nov-28-08 08:39 AM |
#71 |
| -
You're right--I AM smarter than I think you are. |
Jackpine Radical |
Nov-27-08 03:40 PM |
#67 |
Printer-friendly format
Email this thread to a friend
Bookmark this thread