Nassim taleb talks about this, using the character of fat tony the wall street trader, a guy who isnt academic but can trade, vs the ivy league elite who know all but are not profitable.Euler wrote:I haven't read that book yet, but it looks interesting. But there are quite a few similar ones out there I've read over the years. The really interesting thing about a lot of these books is that the authors have opinions and judgements on the subject matter but none actually put it to use! It's rare to find a book where that is actually the case. It seems there is often a disconnected between intellectuals, opinions and actually doing it.
I was trying to solve a particularly hard problems and wheeled in an expert to help solve the problem. But he advised me not to do it. I told him that actually it was just the final piece of a puzzle, but he just wouldn't have it that I was going to put money on it. He swore blind it wouldn't work for a number of reasons, despite me showing him it was working. He just felt it was a 'lucky streak'.
Thinking, saying is one thing. Doing entirely another.
Anyone read any good books?
https://www.amazon.co.uk/dp/085719495X/ ... T58VMND3TE
I agree on Kahnemann. Other useful reads are Maximum willpower (interesting bits on neurobiology of impulses), reminisences of a stock operator, getting things done, eat that frog.
I agree on Kahnemann. Other useful reads are Maximum willpower (interesting bits on neurobiology of impulses), reminisences of a stock operator, getting things done, eat that frog.
- rinconpaul
- Posts: 112
- Joined: Wed Dec 03, 2014 10:39 pm
You're right there. A website exists in Australia called Matter of Stats. It is dedicated to Australian Rules Football predictions using the best statistical models available. Results?....well let's just say, "Stick to your day job!"Nassim taleb talks about this, using the character of fat tony the wall street trader, a guy who isnt academic but can trade, vs the ivy league elite who know all but are not profitable
Reading that book does leave you with a healthy respect for genius though, but having a PhD in Maths, doesn't necessarily qualify, or give you any advantage over Joe Average. Average human intelligence can pick up on nuances that a bot could never. It might be as simple as noticing the poker player opposite you, scratches his left ear lobe when he's got a good hand? There's no substitute for good ideas, something a machine learning bot can't reproduce.
Finished reading this last night.PeterLe wrote:This was recommended on another Blog:-
https://www.amazon.co.uk/Perfect-Bet-Sc ... 8&qid=&sr=
Thought Id give it a try
The kindle showed that I had only completed 59% of the book and I was waiting for it to get interesting only to find that the remaining 41% was the contents pages and that I was at the end of book!
I dont want to sound like a know it all, but I really didnt find anything that I hadnt read before nor knew already.
I still think the best book on a similar theme is Fortunes Formula by Poundstone
Regards
Peter
- marksmeets302
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Loved that book! It's so full of knowledge, and very accessible.I still think the best book on a similar theme is Fortunes Formula by Poundstone
Fiction .. nothing to do with gambling .. but, its a book.
Career of Evil .. J.K.Galbraith (Rowling) .. she said, it was the most enjoyable book, she has ever written.
It has quite a deep sexual theme, but, found it excellent.
Career of Evil .. J.K.Galbraith (Rowling) .. she said, it was the most enjoyable book, she has ever written.
It has quite a deep sexual theme, but, found it excellent.
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didn't see this book mentioned..old school read but very relevant
https://www.amazon.co.uk/Reminiscences- ... k+operator
Reminiscences of a Stock Operator is a 1923 roman à clef by American author Edwin Lefèvre which is the thinly disguised biography of Jesse Lauriston Livermore. The Wall Street Journal described the book as a "classic", it was ranked #15 on 'Fortune's 75 The Smartest Books We Know', and Alan Greenspan said it is "a font of investing wisdom.
“It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.” --- Edwin Lefèvre
https://www.amazon.co.uk/Reminiscences- ... k+operator
Reminiscences of a Stock Operator is a 1923 roman à clef by American author Edwin Lefèvre which is the thinly disguised biography of Jesse Lauriston Livermore. The Wall Street Journal described the book as a "classic", it was ranked #15 on 'Fortune's 75 The Smartest Books We Know', and Alan Greenspan said it is "a font of investing wisdom.
“It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.” --- Edwin Lefèvre
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I like reading. I decide to read a historic book. Who can give me some good suggestions.
Read this, after a review of a random grisham, re-directed me.
Found it compelling ,, and really enjoyed it.
http://www.goodreads.com/book/show/8162 ... woodcutter
Found it compelling ,, and really enjoyed it.
http://www.goodreads.com/book/show/8162 ... woodcutter
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Wuthering in the Height
QueenaBelle
QueenaBelle
I just ordered this book for my grand daughter's upcoming birthday :-
https://www.amazon.co.uk/Save-Your-Acor ... 154&sr=1-1
Having read this article:-
http://www.bbc.co.uk/news/business-37798513
Ive come across some very clever people on here over the years who have amassed more money that they ever thought possible
Maybe Im getting old, but the current younger generation dont seem to save as we did (I had two paper rounds by the time I was 11)!
Anyway I shall give it to her on her forthcomeing birthday together with some Premium Bonds (or maybe her mum can open a LISA on her behalf)
https://www.amazon.co.uk/Save-Your-Acor ... 154&sr=1-1
Having read this article:-
http://www.bbc.co.uk/news/business-37798513
Ive come across some very clever people on here over the years who have amassed more money that they ever thought possible
Maybe Im getting old, but the current younger generation dont seem to save as we did (I had two paper rounds by the time I was 11)!
Anyway I shall give it to her on her forthcomeing birthday together with some Premium Bonds (or maybe her mum can open a LISA on her behalf)
Great work.PeterLe wrote:I just ordered this book for my grand daughter's upcoming birthday :-
https://www.amazon.co.uk/Save-Your-Acor ... 154&sr=1-1
Having read this article:-
http://www.bbc.co.uk/news/business-37798513
Ive come across some very clever people on here over the years who have amassed more money that they ever thought possible
Maybe Im getting old, but the current younger generation dont seem to save as we did (I had two paper rounds by the time I was 11)!
Anyway I shall give it to her on her forthcomeing birthday together with some Premium Bonds (or maybe her mum can open a LISA on her behalf)