StreetEYE Blog

Druce Vertes, CFA


Buyer’s markets, seller’s markets and the hedge fund hype cycle

First come the innovators…Then come the imitators…And then come the idiots — Warren Buffett I was playing poker with hedge fund CTO types over the holidays and they were debating whether they were underpaid. Given some of the skills, years of training, responsibilities, trust, hours involved, some argued, it’s lamentable that senior IT folks get […]

Christmas Story, by H. L. Mencken

THIS STORY was first printed in the New Yorker, to whose editors I am indebted for permission to republish it. In writing it I had valuable suggestions from my brother, August Mencken. H.L.M CHRISTMAS STORY Despite all the snorting against them in works of divinity, it has always been my experience that infidels— or free-thinkers, […]

On ‘fake news’, market designs, and the fascist/libertarian nexus

Arbitrary power is most easily established on the ruins of liberty abused to licentiousness. – George Washington To suppose that any form of government will secure liberty or happiness without any virtue in the people, is a chimerical idea. – James Madison It seems richly ironic that the utopian, nominally libertarian visionaries of Silicon Valley, […]

Everyone lives in a bubble, and all models are overfitted

I beseech you, in the bowels of Christ, think it possible you may be mistaken. – Oliver Cromwell Real knowledge is to know the extent of one’s ignorance. – Confucius So, a lot of people are saying the media/elite got the election wrong because they live in a ‘bubble’. And some are saying the pollsters […]

A politics bullet-storm / linkfest

The Dems didn’t exactly get crushed or demolished in the Presidential. Hillary may have won the popular vote by up to 2%. Trump got the fewest popular votes of any GOP candidate since W in 2000 [edit: this was based on early returns, no longer true]. Low approval. Crushed in home states that know him […]

Safe Retirement Spending Using Certainty Equivalent Cash Flow and TensorFlow

This is not investment advice! This is a historical study/mad science experiment. It may not be applicable to you, it is a work in progress, and it may contain errors. Certainty equivalent value is the concept of applying a discount to a stream of cash flows based on how variable or risky the stream is…like […]

The Game Theory of Assholes

The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man. – George Bernard Shaw I beseech you, in the bowels of Christ, think it possible you may be mistaken! – Oliver Cromwell Nassim Nicholas Taleb has a […]

Pokémon economics, secular stagnation, and cognitive dissonance

There are these two young fish swimming along, and they come across an older fish swimming the other way, who nods at them and says, “Morning, boys, how’s the water?” And the two young fish swim on for a bit, and then eventually one of them looks over at the other and goes, “What the […]

A fun 3D visualization of the financial Twittersphere

Here’s a fun little update of that visualization of the financial Twittersphere I posted in May. This one is in 3D, you can zoom (with scroll wheel) and drag it around (with mouse, also see controls in top right). It might take a minute to load up, not work too well on older computers/browsers. Just […]

Negative interest rates are an unnatural abomination

Mayor: What do you mean, “biblical”? Dr Ray Stantz: What he means is Old Testament, Mr. Mayor, real wrath of God type stuff. Dr. Peter Venkman: Exactly. Dr Ray Stantz: Fire and brimstone coming down from the skies! Rivers and seas boiling! Dr. Egon Spengler: Forty years of darkness! Earthquakes, volcanoes… Winston Zeddemore: The dead […]

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