number 1: ensemble vs. time
a first attempt to disentangle the (on the surface) simple question "what is the expected return?"
3 min read
notes
shorts, fragments, travel notes, culture, books, stray observations
Page 1 of 4
portfolio architecture: three sleeves and one refusal
from the abstract to the concrete: portfolio architecture
1 min read
the idler capital
the most apt name for an investment endeavor.
1 min read
wild randomness
an easy to visualize example of wild randomness
1 min read
samuel johnson on parental responsibility
on our moral obligation to ensure our children's well-being.
when you get too close, you only hear the noise
In the presence of randomness, high-frequency observation obscures signal. Why Djokovic's 55% point wins reveal less than his 88% match record.
1 min read
black blood that kept drippin'
I am no stranger to you. I was born in Troy, and the blood you see is oozing from no tree...
1 min read
virgil is the prince of the poets
in The Aeneid, we find a seamless fluidity that is indifferent to the translator
1 min read
how is it that such an occurrence can occur?
so there it was: Emerson filled the remaining $15.06 needed on top of the cheap plastic pretend play doctor kit... how is it possible?
1 min read
Thucydides, Book 4
a petition to preserve Spartan dignity in misfortune takes us back to Solon's warning
1 min read
history's first (and grandest) funeral oration
an answer, perhaps the answer, to "what we fight for?", "what we die for?" and, most importantly "what we live for?"
1 min read
"daily standard deviation of 1% moves 1% a day" - not so
In the financial markets, the definition of volatility is assumed to be standard deviation. However, in practice, people seem to either forget the definition or completely substitute it with the mean absolute deviation. For example...
2 min read