tag:blogger.com,1999:blog-5880610.post1069223764564132550..comments2024-01-13T18:57:18.243-05:00Comments on Information Processing: Some things never change: Michael LewisSteve Hsuhttp://www.blogger.com/profile/02428333897272913660noreply@blogger.comBlogger24125tag:blogger.com,1999:blog-5880610.post-56684430260260465672013-09-20T20:51:44.534-04:002013-09-20T20:51:44.534-04:00The people I know who made big money in finance we...The people I know who made big money in finance were mostly ex-physicists with the knowledge to price a derivative, and code a computer to do it for them. Might be easy to get in, but unless you are there because you have the trust of rich people it was mostly knowledge and hard work that got them their money.Simon Watersnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-67656041347795927102013-09-16T09:25:54.674-04:002013-09-16T09:25:54.674-04:00None of my statements disproved my point. For a gi...None of my statements disproved my point. For a given level of intelligence, it's harder to get into finance than into start-ups. For a given level of intelligence, you're more likely to be successful in start-ups than on Wall Street.<br /><br />I've known many people who have gone into or come from both Wall Street and start-ups. I'd bet on the Wall Street folks if we were Corneliusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-75331115034379121242013-09-16T01:15:30.595-04:002013-09-16T01:15:30.595-04:00you called the wives of your classmates ugly whore...you called the wives of your classmates ugly whores.<br /><br />hey hire me i can do all your fortran. not even close to enough detail. i took woodshop, let me build your house.<br /><br />i agree that smarts are better than credentials given you can get a foot in the door in the first place. IT may be a very recent exception, but in general however smart one is the only way to learn a business Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-46758068063415616212013-09-16T01:04:50.392-04:002013-09-16T01:04:50.392-04:00no one is underpaid except some engineers. i do ag...no one is underpaid except some engineers. i do agree with capone's gang on that or was that the chicago school of economics? but many are overpaid.<br /><br /><br />old car lovers are never descended from mayflower passengers or titanic passengers for that matter.<br /><br /><br />americana = bad tasteDiogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-7816926852424401062013-09-15T17:00:05.864-04:002013-09-15T17:00:05.864-04:00Congrats, you broke the code.
The amount of manu...Congrats, you broke the code.<br /><br /><br />The amount of manufactured schadenfreude in the education business is enormous.<br />Better to avoid that mess.<br />10 years of happiness in youth, mixed in with semi-responsible life, responsible raising-<br />that is not screwing them up. That's a good life lived.Haciendanoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-34591781006149704062013-09-15T13:01:16.782-04:002013-09-15T13:01:16.782-04:00"The intellectual barriers to entry are great...<i>"The intellectual barriers to entry are greater on Wall Street than they are for typical Silicon Valley start-ups."</i><br /><br /><br />How so? You state that but then make statements that disprove your point.oregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-48482176423715534542013-09-15T05:20:36.557-04:002013-09-15T05:20:36.557-04:00The intellectual barriers to entry are greater on ...The intellectual barriers to entry are greater on Wall Street than they are for typical Silicon Valley start-ups. It's just that intelligence is more useful in picking the right start-up to work for and more useful for succeeding in start-ups. On Wall Street, the stochastic term dominates so success is only weakly correlated to ability.Corneliusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-63780640578782776592013-09-14T13:51:58.644-04:002013-09-14T13:51:58.644-04:00American cars are boss!
http://www.webpulp.org/wp...American cars are boss!<br /><br />http://www.webpulp.org/wp-content/uploads/2009/10/corp_06110_01_z_1957_corvette_side.jpgoregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-67192931665880069482013-09-14T13:41:07.694-04:002013-09-14T13:41:07.694-04:00"the problem is what one loves to do usually ..."the problem is what one loves to do usually has no use whatever to one's fellow man."<br /><br />I've always prided myself on building systems which eliminate human labor.oregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-27916924008152646722013-09-14T13:38:14.009-04:002013-09-14T13:38:14.009-04:00Underpaid are we Diogenes?Underpaid are we Diogenes?oregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-39192912818295178092013-09-14T13:35:24.814-04:002013-09-14T13:35:24.814-04:00"at least they aren't your wife. they do ..."at least they aren't your wife. they do have that going for them."<br /><br />I hear the distinct whine of envy. Sorry to piss you off but stop insulting my wife. And thanks for contributing to my (un-needed) Social Security check. Keep grinding it out. <br /><br />"So much detail. There must be nothing to hide."<br /><br />It was pretty straightforward really. oregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-8425251822771746982013-09-14T04:54:15.536-04:002013-09-14T04:54:15.536-04:00Henry Paulson, the man behind the bank bailouts, r...Henry Paulson, the man behind the bank bailouts, recently said, <br />“The root cause of every financial crisis is flawed government <br />policies.” <br /><br />If ONLY the Fuhrer KNEW! <br /><br />And Paulson is a great example of this himself. A football player and Dartmouth English major, he got his position through his religion. Nixon was to Christian Scientists what Hughes was to Mormons. Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-88814596925077415952013-09-14T03:56:01.664-04:002013-09-14T03:56:01.664-04:00the problem is what one loves to do usually has no...the problem is what one loves to do usually has no use whatever for one's fellow man.<br /><br />"...seems attractive to women..."<br /><br /><br />not the sort you'd touch with a ten foot pole or a ten inch pole or a...Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-91618329129235152992013-09-14T03:52:29.590-04:002013-09-14T03:52:29.590-04:00...I then made a pile of money in IT...
So much d......I then made a pile of money in IT...<br /><br />So much detail. There must be nothing to hide.<br /><br />"... and are now pussy-whipped managers with ugly wives who constantly pester them for new Mercedes..."<br /><br /><br />at least they aren't your wife. they do have that going for them.Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-79674525988582464942013-09-14T02:42:01.561-04:002013-09-14T02:42:01.561-04:00Paulson is like Molotov or terre Blanche. Only in ...Paulson is like Molotov or terre Blanche. Only in 'mer'ca is his type not seen as a Satlinist and bittereinder.<br /><br /><br />27th in median household wealth. "That's the Chicago way!" Thank you Randroids, Reaganolaters, Friedmaniacs, and ... I mean thank you American South, you did win the war after all.Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-10321138423511661142013-09-14T02:36:04.053-04:002013-09-14T02:36:04.053-04:00Groenig has made his pile selling fast food and ug...Groenig has made his pile selling fast food and ugly American cars (redundant).Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-26406896204085944902013-09-13T21:44:19.214-04:002013-09-13T21:44:19.214-04:00There is one type of person unhappier than graduat...There is one type of person unhappier than graduate students, see the lower left panel:<br />http://thesocietypages.org/socimages/2010/05/22/matt-groening-on-graduate-school/LondonYoungnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-66493221927099700862013-09-13T21:00:05.019-04:002013-09-13T21:00:05.019-04:00Good comment. I wish I figured this out all earlie...Good comment. I wish I figured this out all earlier. I finally realized that what I was doing wasn't worth it in terms of what I was giving up (freedom, creativity, doing what I like). Even if I was smart enough to work for a hedge or venture fund, I would just do it for a couple years, save money, and get the heck out. At least for my personality and goals and general happiness, it wouldn&#Shawnnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-16257876793683785002013-09-13T20:52:48.456-04:002013-09-13T20:52:48.456-04:00When I graduated I didn't do much work outside...When I graduated I didn't do much work outside of part-time restaurant work and construction till I was 30. It was hippy days of sex, drugs, surfing, skiing, and skating. I then made a pile of money in IT (and set my own hours) while raising another generation of surfers. When I think of all those fellow Asian guys at Cal who went to graduate school and are now pussy-whipped managers with oregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-47600399062876430652013-09-13T20:05:02.814-04:002013-09-13T20:05:02.814-04:00I applaud this way of life. My only comment is th...I applaud this way of life. My only comment is that he would catch a lot more waves if he would hit the beach for dawn patrol surf sessions. Even in crowded SoCal there are no throngs in the lineup early in the morning.oregonlocalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-64826673154835859692013-09-13T19:21:36.367-04:002013-09-13T19:21:36.367-04:00Of course Steve is a professor and therefore perha...Of course Steve is a professor and therefore perhaps willfully incognizant that even technical degrees may not prepare the technical even a little bit for the technical work they will do.<br /><br /><br />The bottom line is that formal ed in the us, even for the most useful subjects, is an enormous waste of resources. Real, non shitty countries, like Germany are lousy with apprenticeships.Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-3860676420976837872013-09-13T19:18:46.681-04:002013-09-13T19:18:46.681-04:00Lewis was recruited in London where he was doing a...Lewis was recruited in London where he was doing a masters at the LSE. He was recruited through an acquaintance. <br /><br />But Lewis does say in Liar's Poker that the econ degree has nothing to do with investment banking that it is taken as a test of ability and of other traits.Diogenesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-84235918430788023392013-09-13T19:16:41.546-04:002013-09-13T19:16:41.546-04:00*This may be a double post. Sorry if it is. If it ...*This may be a double post. Sorry if it is. If it is you can delete one of the posts. Thanks.*<br /><br /><br />On this blog we talk a lot about career choices, wealth, and their intersections. I found this video interesting. I can't say that I agree with the guy, but I cannot say he is not acting rationally either. He is living his life now as opposed to working 80 hours a week in fiance/Shawnnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-75464170352233277222013-09-13T19:14:42.117-04:002013-09-13T19:14:42.117-04:00On this blog we talk a lot about career choices, w...On this blog we talk a lot about career choices, wealth, and their intersections. I found this video interesting. I can't say that I agree with the guy, but I cannot say he is not acting rationally either. He is living his life now as opposed to working 80 hours a week in fiance/consulting, etc. with the promise to retire rich in middle age. Also this guy seems attractive to women which is Shawnnoreply@blogger.com