Lurker > lesidesi

RIP Grandpa Sweet n low
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If they can get you asking the wrong questions, they don't have to worry about the answers.

https://i.kym-cdn.com/photos/images/original/001/241/713/986.jpg
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If they can get you asking the wrong questions, they don't have to worry about the answers.

The movies are really hard to follow
I never read the books but clearly more happened than could fit in the movies so they always felt shallow with no depth/no character development
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If they can get you asking the wrong questions, they don't have to worry about the answers.

you were probably skipped because you don't exhibit said quality and parappa is trying to avoid saying it explicitly
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If they can get you asking the wrong questions, they don't have to worry about the answers.

i hope i don't considering i don't have one of those
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If they can get you asking the wrong questions, they don't have to worry about the answers.

good topic, well played
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If they can get you asking the wrong questions, they don't have to worry about the answers.

actually maybe i'm just biased towards good posters
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If they can get you asking the wrong questions, they don't have to worry about the answers.

@Darkman124
@byron
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If they can get you asking the wrong questions, they don't have to worry about the answers.

market related jobs work well as 40 hour work weeks because that's when markets are open
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Turkeys don't vote for Christmas
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If they can get you asking the wrong questions, they don't have to worry about the answers.

most equity research analysts at investment banks are morons
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If they can get you asking the wrong questions, they don't have to worry about the answers.

i mean i don't work in that type of place, but it's pretty standard that pension funds will have various investment professionals for different asset classes, and they'll have discretion to invest up to $x at their discretion (whatever that may be) - but for big investments over $y, you'll need board approval

and high level stuff like overall strategy/asset allocation is definitely down to a board decision

boards end up owning the decisions/performance, as it comes down on them if things go bad
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Do you work in finance? Do you think you can pick stocks better than most people?
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If they can get you asking the wrong questions, they don't have to worry about the answers.

it's very standard for pension plans to have board approval on investments

boards have to approve asset allocation, have to approve large investments, etc

there are usually investment teams underneath that have some degree of bandwidth, but on large investments that have to be approved by the board

changes to proposed asset allocation also has to be approved by the board
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If they can get you asking the wrong questions, they don't have to worry about the answers.

i dont even know what that is
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Darkman124 posted...

That's a very fair point. Passive is high beta by design.

Granted, investing some of the plan assets in bonds is another way to move along the risk-return curve. It's not like active funds are reliably going to penetrate far past the efficient frontier of the pareto curve. But they could be paying for much better than they are.

PS: Going to be in London in Sept, staying in Soho. Anything you'd recommend I check out?

try to go to the restaurant Kitchen Table (if you're a foodie) - one michelin star restaurant that deserves more - make the reservation now
skip a lot of the lame touristy shit like madame tussauds
tate britain and tate modern are probably worth visiting if you haven't been before
saatchi if you like weird art shit
try to catch a play at the globe, an london symphony orchesta concert, and a football game (chelsea!!)
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If they can get you asking the wrong questions, they don't have to worry about the answers.

that's the comparison people need to do to measure active managers, but that isn't typically what's reported

people will write articles in a 10% market year and criticize active managers for making 9%, even if the manager is running a 60% exposure to equities, which isn't a fair comparison
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If they can get you asking the wrong questions, they don't have to worry about the answers.

i mean you're getting into a philosophical active vs passive debate, but the reality is that often, the folks that claim active managers usually underperform aren't looking at volatility of returns or beta

There are plenty of shit money managers, but on a risk adjusted or beta adjusted basis, which is how these things should be measured, good active managers are definitely value add
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If they can get you asking the wrong questions, they don't have to worry about the answers.

s0nicfan isn't really wrong, that's essentially the point i was making as well
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If they can get you asking the wrong questions, they don't have to worry about the answers.

the CEOs of big american state pensions get paid like $500k a year
that's not close to enough to get good people

the canadian pension plans are much better, and are basically the envy of the rest of the pension world
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Deadpool_18 posted...

Mike Xtreme posted...

Read it from start to finish, hated it. Felt very pretentious and leaves the reader with literary blueballs.

This to the extreme. Its the only book that I have ever truly hated, and Ive read a lot of books.

I find it hard to believe that anyone who has actually read IJ would honestly feel it is pretentious
What IS pretentious is carrying around the book like it makes you "smart" to have read it, but that's very different
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Youll miss out on a ton of phenomenal, and very important literature if you refuse to read accents. It's something worth getting over, in my opinion
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If they can get you asking the wrong questions, they don't have to worry about the answers.

It's called maturing/growing up
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If they can get you asking the wrong questions, they don't have to worry about the answers.

FLUFFYGERM posted...

I mean it's certainly more sophisticated and nuanced than anything Karl Marx wrote.

by no means do i subscribe to marx's way of thinking on almost anything
but this is so moronically hyperbolic it does more to harm your case than it does to support it
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Ultima Dragon posted...

Having lots of money sucks because you always get to the point where it's like "What now? What's even the point of living?"

Life is pretty much about distracting yourself enough to get through every day, and the "struggle" of life is a big part of that. Take away the struggle, and you have way too much time to reflect on how shitty the world is and how nothing you do really matters. Depression and nihilism galore.

Like with tons of money you can only buy and play with so many toys, travel so much, etc. It's gonna get old after a while. Many people turn to drugs for their distraction, but that's playing a dangerous game.

are you speaking from experience? do you have enough money where you're asking yourself that?
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If they can get you asking the wrong questions, they don't have to worry about the answers.

these penalties are terrible

neither team deserves to be here
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If they can get you asking the wrong questions, they don't have to worry about the answers.

i'm also a biased chelsea supporter (with season tickets that goes to every home game at stamford bridge)
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If they can get you asking the wrong questions, they don't have to worry about the answers.

sterling only scores because of his supporting line at man city
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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

pickford wow
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If they can get you asking the wrong questions, they don't have to worry about the answers.

sterling is so bad


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If they can get you asking the wrong questions, they don't have to worry about the answers.

Bloomberg/Reuters/FT
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If they can get you asking the wrong questions, they don't have to worry about the answers.

i used to hate air canada, then after flying a lot on delta/united/etc you realize how good air canada really is
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If they can get you asking the wrong questions, they don't have to worry about the answers.

byron posted...

lesidesi posted...

if we assume 50% tax rate, living/life expenses of $2k per month, then (2k+4k)/0.5 = 12k salary per month, so ~$150k salary

definitely not enough to brag about, hope you get at least double that as an annual bonus

I always see you in these topics acting like if you don't earn 250k and have $5 million net worth by the age of 25, you're a failure. Show proof of your riches!

yea let me just upload my w2s for you
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If they can get you asking the wrong questions, they don't have to worry about the answers.

u a tecccboi?
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If they can get you asking the wrong questions, they don't have to worry about the answers.

if we assume 50% tax rate, living/life expenses of $2k per month, then (2k+4k)/0.5 = 12k salary per month, so ~$150k salary

definitely not enough to brag about, hope you get at least double that as an annual bonus
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If they can get you asking the wrong questions, they don't have to worry about the answers.

You should try to save at least double that
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Living with my parent(s)
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If they can get you asking the wrong questions, they don't have to worry about the answers.

the last 10 games:
england won 2
sweden won 3
5 draws

i wouldn't call that bad really, it's pretty even in my view
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If they can get you asking the wrong questions, they don't have to worry about the answers.

is the track record bad? it looks fairly even


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If they can get you asking the wrong questions, they don't have to worry about the answers.

i work as a trader (in fixed income, not companies) and i'm in markets all day, and i never touch single name equities because i know i have no edge - if I want to invest in equities, i just use ETFs or options on indices/ETFs
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If they can get you asking the wrong questions, they don't have to worry about the answers.

it's a lot of work and there are reasons why people work 16 hour days analyzing companies
if you think you have an edge over folks that do it for a living, you're probably fooling yourself
it's difficult to outperform the market through picking single names - best to go into ETFs if you want equity exposure and just go long the market
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If they can get you asking the wrong questions, they don't have to worry about the answers.

YESSSSSSSSSSSSSSsssssssssssssssssssss
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If they can get you asking the wrong questions, they don't have to worry about the answers.

omg
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If they can get you asking the wrong questions, they don't have to worry about the answers.

don't be afraid of failure

embrace it, and use the pain of failure to learn from it and do better next time

if you never fail, you're not taking enough risks
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If they can get you asking the wrong questions, they don't have to worry about the answers.

if the ref was wearing an England shirt, Colombia would have 10 men
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If they can get you asking the wrong questions, they don't have to worry about the answers.

no red for the headbutt is still a joke
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If they can get you asking the wrong questions, they don't have to worry about the answers.

ffs
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If they can get you asking the wrong questions, they don't have to worry about the answers.

colombia are playing like morons, they're way too emotional right now

glad to see england is ahead
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If they can get you asking the wrong questions, they don't have to worry about the answers.