LC

I lean towards Infoisone's observation that in many cases, AI & ML methods are essentially statistical methodologies re-branded and applied to a a large dataset (and for sure, it is applied in some novel ways). Look at the prototypical KNN algorithm: it is essentially a combination of OLS and the classification problem. The advancement is the computing power (and thereby application to "large data"), but not the methodology. Most AI/ML is simply a marketing term to MBA-educated senior management.

This was a good enough joke on its own :D

As have these: https://i.redd.it/mlwvk5015l261.jpg Both are sad. There must be a compromise solution.

To all the American members here, happy thxgiving!

Schwab for most of my accounts except the big ones @ IBKR solely for the margin rates.

Bad analogy. A vaccine is not inevitable. Sending bits between computers is. This reminds me of that Buffett quote about if hindsight was worthwhile, librarians would be the best investors.

To me - there is no acceptable commuting time. I have been WFH 100% for the past 5 years and would under no circumstances go back to a commute. I worked hard for 20 years to get to the point where I don't need a salary, I love my discipline and working with my colleagues. But if my employer asked me to commute at all, I would find another workplace or go back into academia. In fact the only way I would commute would be if I was teaching/lecturing in classroom.

Wait, there’s a 9th Avenue?

There’s a Russian saying to the effect of, if you are in an open field and a sniper has sighted you, do not run. You will be tired as well as dead.

Never manage money for people who have less of it than you. To address the original post - the most "legit" way is via RIA but this may be too formalized for your means. You can manage I think up to 15 friends/family accounts "informally".

And income mobility is better achieved through more regulations, more license, more barriers to entry, higher taxes, and more red tape? This is a very odd response to what I said. I was talking about income mobility, and you suddenly seem to believe that everything the government does is therefore about income mobility. (It isn't, you know. When the government prevents people from discarding cyanide into your drinking water, they're not doing so to increase income mobility.) That said, some government policies can help income mobility and some government policies can hurt it. Generally, America's pretty terrible at income mobility compared to almost all other western countries. I think it's a major contributor to the completely messed up political situation America is in right now. (If you like, read that to mean, "the rise of AOC" rather than "the rise of Trump". It's the opposite sides of the same "no income mobility" coin.) The correct response is “I have nothing to add”, because your initial post hit the nail on the head.

Well earned! I've had the pleasure of enjoying your posts here for years now, do you find writing a blog (and having readers) creates a feeling of obligation to publish? Wondering how you deal with that.

Most interesting aspect here is how he built it into a 200k subscription service. Any kickbacks to good ole' Liberty for some free COBF advertisement? Kidding :D

Change your mind on RTX?

You’ve slightly muddied the water because a team like the Mets generate earnings every year. A painting you is different as you only generate earnings upon sale. But still, all these generate cash flows albeit at different times (and therefore the discounting is different). How much would you pay for a gold bar which could Never Be Sold Again - ie guaranteed zero future cash flow.

I see no difference between the two. Frankly I try to avoid using the term "asset". Marty Whitman goes on-and-on about how investors are misguided by the income statement and forget the balance sheet. Well they're the same damn thing (mostly), at least in my mind. "Assets" are just things which produce "earnings". The only thing that matters is how much earnings and for how long. And your description of "Asset" is also odd. Take canary wharf - incredibly valuable, but how much is it worth in the middle of mississippi or at the bottom of the atlantic? Using labels just promotes lazy work. "Durable" assets like real estate - how "durable" were they during COVID? Meanwhile tech/software did great because those "less durable" assets were actually...more durable? Screw the labels and just try to estimate the earnings streams

Well said.

rb, I was waiting for someone to call that out :D

How are u sizing the position, Greg? It seems somewhat speculative (the monetization aspect, not the underlying science) but you seem to have strong conviction.

When the opposition is reduced to a single, lone, miserable voice, even when they are spouting total nonsense, that is when it is most important that they have a voice and are not silenced.

It was a general point that resources invested in a child go way further than more resources invested in an adult. In other words, you can’t teach an old dog new tricks. You can adjust the specific numbers however you’d like.

My kids went to good public schools in Massachusetts and New Hampshire, but If I had to do it over again, I think I would have put them in a Montessori type school in the younger grades. Kindergarten for sure. Forcing young kids into desks for hours on end had got to be the most unnatural thing we do to them. Sex education of any type at 5 years old is insane as well. Let kids be kids. By the time high school comes around any good school private or good public will do. My kids used to come home from school and tell me how their teachers or administrators were trying to brainwash them. Simply being raised right by you should be enough of an immunity to that type of nonsense. agree. Financial wise, I would say if one could save $1m or even half a million, and put that the stock market, earning 5-7% annually, you have an "endowment" for your kid's education. Actually, if you put $100k in TSLA a couple years back, now you would have $1m, and you can put that $1m in BRK earning 7% per year, you are all set. :) Well the problem is that kids learn much more, much quicker at an early age. Yes maybe 100k will turn into 10m in 20 years, but can your kid learn as well at 30 years old or at 10? I’d rather spend the money upfront because you will get much more value teaching a kid vs teaching an adult. And I think a kid is better off being smart and middle class rather than dumb and wealthy.

El Paso, Texas reaches hospitalization capacity.

You can lead a horse to water... I know kids from big east coast schools Dalton, Exeter/Andover, etc...I would estimate the “success” rate on what they’ve done with their lives is similar to kids from less renowned schools.

Another tangent to SD’s post. Those who do not “fit the mold” may be a better choice also because they realize that “the mold” does not matter. It reminds me of stories of Fermi, who while creating the worlds first nuclear reactor, would also help the cleaning crew and janitors empty trash and tidy up at the end of the day, to his colleagues bewilderment and amusement.