The billionaire scam

Hedge funds continue to falter: The Great Exodus Out of Hedge Funds Hedge funds struggle to lure new money as performance lags In one of the most volatile markets in decades, active fund managers underperformed again Cathie Wood’s ARK Innovation ETF has lagged the Nasdaq since 2018—while collecting over $200 million in fees LIVE MARKETS… Continue reading The billionaire scam

The daily view: 5/2/2022

Search interest in Ukraine, not surprisingly, has collapsed: It’s been over 2 months since the invasion began. What happened to imminent threat of nuclear war or ww3? Over so soon? Over and over, we see a recurring pattern of things that are hyped by the media as a crisis, failing to live up to that… Continue reading The daily view: 5/2/2022

Tucker

Saw this anti-Tucker Carlson infographic going viral https://www.nytimes.com/interactive/2022/04/30/us/tucker-carlson-tonight.html Of course the NYTs is defaulting to the usual pearl clutching, because heaven forbid some people are skeptical of ‘health experts’ or the outcome of the 2020 election. If we want to blame Tucker for Jan 6th, then we must also blame the left-wing media for the… Continue reading Tucker

Bitcoin is not a hedge against uncertainty, a bear market, or recession

Saw this post Incoherence There’s a wing of the Bitcoin faction who are bullish on crypto but bearish on the US and / or global economy. Or, is it a wing of the economically bearish faction that is bullish on Bitcoin? In either case, it’s a weird mentality to have and does not at all… Continue reading Bitcoin is not a hedge against uncertainty, a bear market, or recession

Ending legacy favoritism will not hurt the Ivy League financially

There is a common narrative that disregarding legacy admissions in favor of a purely meritocratic system will cost the Ivy League and other top schools money. In the post Dropping the SAT Will Likely Cost Harvard Money I argue that this may not necessarily be true. I have updated that post to include MIT and… Continue reading Ending legacy favoritism will not hurt the Ivy League financially

Still skeptical about the link between social media and envy

It’s taken as a truism by the media and pundits that social media creates envy, but I think this is debatable. I cannot recall anyone I follow on social media posting about early retirement with millions or landing a lucrative tech job or anything that could be considered envy-provoking. Have these pundits actually ever used… Continue reading Still skeptical about the link between social media and envy

Taleb tweets, continued

Taleb’s opinion of Elon buying out Twitter is predictably woke: From suckers who firmly believe @ElonMusk is a defender of the flow of information, he has blocked me for this in March 2020, just before Covid hit the fan. I have nothing agst blocking or restricting accounts; but I am not buying Twitter to facilitate… Continue reading Taleb tweets, continued

IQ is not that important…except for all the things in which it is

The social media outrage in response to New York City Mayor Eric Adams’s seemingly innocuous observation that not all workers are equally skilled, revealed that America’s fraught understanding of class is one of deliberate omission or cognitive dissonance, in which we have to simultaneously acknowledge that economic and class disparities are real but at the… Continue reading IQ is not that important…except for all the things in which it is