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james22

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Posts posted by james22

    China

    in General Discussion

    Posted

    On 3/22/2024 at 9:28 AM, Gregmal said:

    Yup...the biggest grift in America right now is the guys getting paid 6 figures with amazing benefits and complete job security to drink craft beers and teach/hit on young adults 4 hours a day, 3 days a week. 

     

    It's hard work undermining Western civilization.

    Cryptocurrencies

    in General Discussion

    Posted

    3 hours ago, wachtwoord said:

    Hard to find? It's been the since 2012! And there hasn't been that much noise for the longest time ...

     

    Bitcoin brings with it excitement, speculation, rumor, and downright confusion. To be sure, Bitcoin is complicated. 

     

    There's been FUD since the beginning. (And worse: crypto discussion is actually prohibited on the Bogleheads forum, for example.)

     

    And one could have found the article and still walked away thinking it too speculative:

     

    Remember that Bitcoin should still be considered an experiment. As resilient as the system has proven to be, it is still new. The value of a Bitcoin could drop to zero tomorrow.

     

    Bitcoin is a highly volatile commodity with an extremely uncertain future.

     

    A prudent person should assume Bitcoin will fail, if for no other reason than that most new things fail. 

    Cryptocurrencies

    in General Discussion

    Posted

    The thing is, you have to have studied crypto a bit to know the difference.

     

    And you've no reason to study if you've (not unreasonably) applied the authority bias heuristic.

     

    You can fault those for looking to Buffett/Munger for their take on a new technology, something they admit they struggle with, though you wouldn't think they take so adamant a position on Bitcoin if they weren't sure of themselves.

     

     

    Cryptocurrencies

    in General Discussion

    Posted

    5 hours ago, Dave86ch said:

    Buying and, above all, "holding" Bitcoin is not just an IQ test for individuals but also for countries.

     

    To be fair, most don't bother to study it because they've been told it's a Ponzi by people who should know better.

     

    When you've Buffet/Munger on one side of the argument and Sam Bankman-Fried the other, you can believe you know all you need to.

    Cryptocurrencies

    in General Discussion

    Posted

    But the governments who abuse the fiat monetary system haven't built shit. They've demonstrated nothing. Their only claim to power is printing money to buy votes.

     

    And if they trigger a hard money backlash, who better to replace them than those who correctly predicted it?

     

    (And of those, it'll be those who've also built shit that rule, not those who just bought into bitcoin for a lambo.)

    Tangled Up in Blue - Rosa Brooks

    in Books

    Posted

    3 hours ago, Saluki said:

    She ended up becoming a law professor at Georgetown and writes legal articles on police reform and the military, despite never having worn a uniform.  So she decided to see it from the other side and volunteered to become a reserve office in Washington DC.

     

    Crazy, but: respect.

    Troubled - Rob Henderson

    in Books

    Posted

    Henderson is best known for developing the concept of ‘luxury beliefs,’ which are political ideologies and policy proposals that confer social status on the well-to-do folk who support them. Meanwhile, those same policies injure poor and working-class people when implemented at the state’s behest. His insight is startling and applies to many more interventions than obviously daft ones like defunding the police.

     

    https://lawliberty.org/book-review/misery-loves-company/

     

    I haven’t been able to stop thinking about one aspect of this book: the extent to which dishonesty is entirely normalized in our society among the elite. The luxury classes people pretend to believe that marriage doesn’t matter, but very few of them have children out of wedlock. They pretend to believe that fat-shaming is a serious moral affront, while they spend a fortune on organic food and personal trainers to keep themselves fit and trim. They pretend to believe many things that their lives betray they don’t actually believe at all.

     

    It’s easy to think that most of them are just going along with the crowd and don’t realize they’re lying, but the truth is that most of them do know, which is why they expressed agreement with Rob in private. This is a familiar dynamic; I used to get DMs on Twitter from people apologizing that they couldn’t follow me (though they made a point to daily read my tweets) without upsetting their coworkers. These people included a couple of college professors, a Unitarian minister, and a couple of therapists, and possibly others I’ve forgotten.

     

    Dishonesty is so normalized that this kind of performative fragmentation—signaling that one believes certain things while acting as if one believes other things—may eventually be recognized as a marker of intelligence and proper preparation for class climbing (or class maintenance, if one starts off in that class).

     

    https://hollymathnerd.substack.com/p/agency-is-a-life-defining-skill

    Cryptocurrencies

    in General Discussion

    Posted

    2 hours ago, gfp said:

    I mean, it is a crypto thread on a value investing message board so not super surprising.

     

    Searching COBF returns 1,501 hits for momentum and 347 hits for "Special Situation."

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