It is just for the harness. Using a Mac Mini gives you direct access to Apple services, but also means you can use AppleScript / Apple Events for automation. Being able to run a real (as in not-headless) browser unlocks a bunch of things which otherwise be blocked.
I didn’t create this, but on the surface it looks like a reasonable median between “Superpowers”[1] and “Gas Town”[2]. Posting as I don’t see any discussion on it here yet.
Watched every video of them, I am okay with math. Thank you very much!
Btw, since quant industry is full of secrets - is there any source on some actual money figures - how much firms make, what are the sums that are required to be shuffled, what are the frequencies of trades, profitability figures? Anything to get a slight glimpse into inner workings of this. Unfortunately googling turns out nothing or scams
> is there any source on some actual money figures - actual money figures - how much firms make
Yes there are a number of public sources, especially for UCITS funds that have some regulatory requirements to post publish their portfolio composition.
But you probably won't be able to make much sense of these figures, as it needs to be interpreted relative to the orientation of the fund.
See, a hedge fund is not selling "performance" per se, it's selling a reward for assuming a specific kind of risk on your behalf. Lots of people don't understand that nuance, and that's where you see all these messages like "haha my index fund outperformed hedge fund X".
Say you're a super wealthy company, idk, let's take an insurance company for the sake of the example. You have 1 billion dollar lying around and you would like to earn some passive money on it.
You can't just give that money to whatever hedge fund manager will give you the most performance, simply because you, as an investor, already have exposure to a bunch of factors. You cannot afford to have that money exposed to the same risks.
- Suppose your insured clients are mostly from Europe, it would be a bad investment to place that money on something that is exposed to the European economy. It would mean that if some bad macroeconomic factor impacts the European economy, thus making Europeans companies at risk, your dear investment would fall at the same time.
- You probably will need to be able to withdraw a part of that money at some point. Even if not, you will need to have some sort of balanced books to keep track of. Something along the lines of "the overall company reserve should cover 20% of the insured goods of clients". That means you cannot invest on whatever yields good performance, you also have to make sure the volatility of this investment won't put you at risk.
There are thousands of considerations like that, each client will have a different set. This leads to a bunch of different "orientations" of funds. Each client will typically have some kind of preferred allocation that he will balance between multiple funds accordingly.
Some examples:
- CTAs (trend followers) will provide good performance, at the expense of a strong market exposure and volatility.
- Market neutrals will provide pure alpha (no market exposure) but with lower volatility and returns.
- Arbitragers will provide very good returns, very low volatility, but with very small capacity.
- Macro funds will provide returns uncorrelated to the market, but suffer very low vol in certain circumstances.
There is no point in comparing the returns of different orientations of funds. Even comparing the returns of same kind of funds is not really relevant, to have a full picture you would need to k ow exactly what this kind of fund is supposed to deliver in terms of volatility, exposure, returns, etc.
> what are the sums that are required to be shuffled
Usually this is an output of your strategy, not something you decide a priori. Quantitative funds win "on average", so you want to trade as much as you can for the law of large numbers to kick in, until the trading costs catches up.
> what are the frequencies of trades
That completely depends on the kind of fund, and the regulatory enveloppe with which the fund is sold.
Typically that will go from a few microseconds for the best arbitragers to weekly/monthly rebalancing for large fundental funds.
Your logic seems to be “he doesn’t look like a fitness influencer, therefore he’s not fit and healthy”, and I’m not sure that stacks up. Maybe his goals are not the same as yours, and you shouldn’t conflate them?
I'm specifically not and as an aside I don't look like a fitness influencer either. I'm absolutely saying his goals are not the same as mine as I am literally saying losing weight shouldn't be the end all, be all goal. It should be having a good amount of muscle. The photo I posted makes me think that this guy is just skinny fat, which is what happens when champion diet over exercise.
Good for them, and good for everyone else here who's happy about the switch to remote working. That said: I think I'd almost rather quit than "work from home" indefinitely.
For me I'm not "working from home", I'm "living at the office". I deeply resent that my work has taken over a part of my home. For the record: I love my job. I also really miss working from the same physical space as my colleagues. Meetings which I used to enjoy are now awkward and draining. Lastly: I even miss my commute home in the evening (not so much my morning commute, to be fair). It used to give my 30 minutes in which to decompress and switch my brain out of work mode.
Fully agreed. I didn't endure over a decade of an abusive household and even a few months of homelessness just so my employer could close down its offices and forcibly relocate them into my living room.
I was absolutely fucking livid. Can't a man just be left alone in his own home any more?
I hope we can find a solution where people can choose to work at an office or from home. I expect that the compromises necessary will be difficult. For some, like yourself, meetings were a source of pleasure and are now draining. For others, meetings were a place for dominating (usually male) colleagues to enact competence dramas, often at the expense of more competent but quieter ones. I know some people who already head to the office, but prefer that the meetings are still virtual. For many people getting to the office really is just about having a physical space to work outside the home. So there are a lot of factors. In the end, the market will decide.
There's another Sanderson Cosmere book called Warbreaker which crosses over with Stormlight pretty heavily from book 2 onwards (it's also very possibly there are references in book 1 which totally passed me by). You'll definitely have a better handle on why a particular object which shows up in the Stormlight books is so scary if you read Warbreaker first.
Book 4 of Stormlight does have some pretty big references to the original Mistborn trilogy, too.
On the whole I try to read books in the order I bought them (ish), but Sanderson is one of the authors I'll just drop everything for when a new book comes out. Disclaimer: he does have some bad habits (mainly inserting "wise ass" characters who don't fit the tone or setting, and who I strongly suspect carry the author's voice a little _too_ directly). But he does epic world building incredibly well, and very different to just about any other author I've read. He also writes action exceptionally well.
Warbreaker is a very amateurish effort though - I think a lot of people would bounce off it. I'd definitely suggest starting with Way of Kings, if that grabs a new reader then they can delve into the Cosmere before continuing on to Words of Radiance.
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