Arbitrage between human tendency to see linear relationships and the nonlinear nature of reality.
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Arbitrage between the linear environment that we evolved in and the nonlinear environment that we’ve created.
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Arbitrage between the cheap linear models required for survival and the costly nonlinear ones we’ve developed.
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In Thinking Fast and Slow terminology: sell system I, buy system II.
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What does lollapalooza mean in this context?
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Lollapalooza is a lot of heuristics (such as a scarce product that has social proof and endorsements from authority) pointing the same direction, suggesting an investment opportunity.
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Exactly. Lollapalooza is when many biases feed into each other. This is why Munger and Buffett own Coke. Applies to the downside as well. After the 2008 crash Charlie bought Wellsfargo at $8 knowing it was likely peak negativity.
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Different names, same game. All about finding convex opportunities in a linear-thinking world.
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Thiel also looking for reflexivity under a different name: Mimetic Theory
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You just read my mind. You might enjoy this http://mimeticarbitrage.com/Value%20Mythology.pdf …
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That is cool, have you read Andre Orleans “The Empire of Value”? If not I would highly recommend it to you.
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Thanks, I'll add that to my reading list.
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Check out part 1 of my presentation series regarding this. http://mimeticarbitrage.com/Value%20Mythology.pdf …
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These aren't similar
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This is good
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Reminds me of that great story originating in the ancient Indian subcontinent...pic.twitter.com/DrwOfXvZ7B
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Different names for the same deity. Profit!
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Incremental value add
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