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MorlockP's profile
ⓘ Dogs don't have thumbs
ⓘ Dogs don't have thumbs
ⓘ Dogs don't have thumbs
@MorlockP

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ⓘ Dogs don't have thumbs

@MorlockP

Two-time Prometheus award-winning hard science fiction author. https://www.amazon.com/dp/B005JPPMS6  Learn how to homestead https://www.amazon.com/dp/B093BC3K1T 

Aristillus Crater, Luna
amazon.com/dp/B005JPPMS6
Joined June 2012

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    1. Patrick McKenzie‏ @patio11 13 May 2019

      Matt Levine on investing-as-gambling and how society should do something productive with it rather than experiencing a deadweight loss for random number generation. https://www.bloomberg.com/opinion/articles/2019-05-13/uber-misses-the-enchanted-forest …pic.twitter.com/z4buaD8r7g

      10 replies 35 retweets 236 likes
      Show this thread
    2. Patrick McKenzie‏ @patio11 13 May 2019

      I suppose one could make an argument that startup crowdfunding might be a potential option here; put a limit on how much folks can lose, give them a team they can root for, and keep the ecosystem *relatively* free of outright predation.

      5 replies 2 retweets 34 likes
      Show this thread
    3. Patrick McKenzie‏ @patio11 13 May 2019

      I have a generalized belief not widely shared among my friends that one is much more likely to create value with a large number of relatively small investments in firms than a small number of largest investments in Prestigious Projects (TM).

      5 replies 2 retweets 44 likes
      Show this thread
    4. Byrne Hobart‏ @ByrneHobart 13 May 2019
      Replying to @patio11

      Depends on whether your edge is in 0 to 1 or 1 to N investments.

      1 reply 0 retweets 1 like
    5. Patrick McKenzie‏ @patio11 13 May 2019
      Replying to @ByrneHobart

      If we assume that the average retail punter has no edge plausibly we'd care about relative (metaphorical?) betas of 0 to 1 / 1 to N investments, but there's something of an entertainment expense angle here that makes that a little quirky.

      1 reply 0 retweets 1 like
    6. Byrne Hobart‏ @ByrneHobart 14 May 2019
      Replying to @patio11

      Oh, yeah. Probably the ideal allocation for a retail investor is 90% index funds and 0.5% of your money into each of twenty stocks you’d enjoy talking about at a party.

      1 reply 0 retweets 18 likes
    7. Byrne Hobart‏ @ByrneHobart 14 May 2019
      Replying to @ByrneHobart @patio11

      The index fund part has negative externalities, but it’s hard to suggest a good alternative.

      0 replies 0 retweets 2 likes
    8. This Tweet is unavailable.
    9. Byrne Hobart‏ @ByrneHobart 14 May 2020

      But the Marxists, at least, had a plan! Indexing approaches paperclip-maximizing

      0 replies 0 retweets 0 likes
    10. This Tweet is unavailable.
      ⓘ Dogs don't have thumbs‏ @MorlockP 14 May 2020

      @ByrneHobart's argument, from his newsletters, is - I believe - that if everyone invests in index funds then basically there's one massive monopoly of capital that doesn't much compete against itself. S&P 500 = a Japanese zaibatsu. Yes?

      6:18 AM - 14 May 2020
      • 2 Likes
      • Divia Eden 🔍 krish
      0 replies 0 retweets 2 likes

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