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The Fall Of Intrade And The Business Of Betting On Real Life
buzzfeed.com
Caroline sensed, rightly, that her departure alerted Jane Street to an alarming new threat. Jane Street and the other high-frequency trading firms had been fishing for traders in the same ponds as Will MacAskill and the other Oxford philosophers fished for effective altruists. People able to calculate the expected value of complicated financial
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
The flood of effective altruists into the firm was worrisome. These people arrived with their own value system. They had their own deep loyalties to something other than Jane Street. They didn’t have the usual Wall Street person’s relationship to money; they didn’t care about their bonuses in the ways Wall Street people were supposed to care. Sam
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Watch out for assertive “fast talkers.”
Ray Dalio • Principles: Life and Work
Formal procedures include:
Alex Edmans • May Contain Lies: How Stories, Statistics, and Studies Exploit Our Biases—And What We Can Do about It
A fantastic story about the father of modern portfolio theory, Harry Markowitz, brings this to life. Markowitz considered the optimal mix of assets for his personal portfolio but found it all too complicated to wrap his prodigious brain around. “I should have computed the historical co-variances of the asset classes and drawn an efficient
... See moreBrian Portnoy • The Geometry of Wealth
