[HN Gopher] A 28-year-old with no degree becomes a must read on ...
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A 28-year-old with no degree becomes a must read on the economy
Author : htk
Score : 64 points
Date : 2020-07-03 22:01 UTC (58 minutes ago)
(HTM) web link (www.bloomberg.com)
(TXT) w3m dump (www.bloomberg.com)
| ixvvqktiwl wrote:
| Also check out r/investing or r/wallstreetbets, lots of free
| opinions on what's happening in the world.
| HenryKissinger wrote:
| > check out ... r/wallstreetbets
|
| Don't. At least not for anything other than the memes.
| ixvvqktiwl wrote:
| Honestly I think the average IQ on WSB is pretty high, you
| just have to learn to sift through the junk. There are plenty
| of gold nuggets to be found.
|
| Also the memes are great. What's the point in life if you
| aren't having fun?
| ashtonkem wrote:
| That sub is for the lulz; it's not a serious analysis of
| the market. The best description I've heard of it was "a
| jackass for finance, made all the funnier because you
| realize that people actually got hurt"
| HenryKissinger wrote:
| 4chan with a Bloomberg terminal.
| hoka-one-one wrote:
| IQ has inherently racist origins...I think as a society
| we'd do better to remove it from our lexicon, as it's
| simply racialist pseudoscience meant to preserve the status
| quo.
| danieltillett wrote:
| Can we please have one discussion that isn't about race.
| [deleted]
| lipstone wrote:
| Lol, I suggest you don't visit WSB.
| [deleted]
| acwan93 wrote:
| Serious question: does anyone know when/why that subreddit
| became what is is today? I used to follow it in the early
| 2010s and it actually provided some reasonable insights.
| joshmn wrote:
| I can tell you for sure that Robinhood hasn't contributed
| positively the quality of content.
| ForHackernews wrote:
| I have to beg to differ. The Robinhood "infinite money
| cheat code" was WSB's finest hour.
| OGWhales wrote:
| "It literally can't go tits up"
| aaaxyz wrote:
| If I had to guess, Robingood and the burst of the
| cryptocurrency bubble
| ixvvqktiwl wrote:
| Idk, it's basically been the same thing for as long as I've
| been following it, and I started around 2017. The only
| thing that's really changed is the number of subscribers
| has exploded.
|
| Here's the front page of WSB from 2016: https://web.archive
| .org/web/20160706011305/reddit.com/r/wall...
| stopping wrote:
| There may be lots of free opinions, but I don't believe they
| have much value to the novice investor. I'll admit there are
| some hidden gems, but separating the wheat from the chaff
| requires more insight than these subreddits provide on average.
| DevKoala wrote:
| His piece challenging Frank Partnoy's fear mongering comparison
| between CDO's and CLO's is great.
|
| https://nathantankus.substack.com/p/worst-case-scenario-or-i...
| viburnum wrote:
| Tankus has been studying economics full time for twelve years!
| He's earned it. His posts used to be not good but he's paid his
| dues.
| melling wrote:
| What's the famous saying about the best way to get the right
| answer? Something about posting it to the Internet and having
| the crowd correct you?
| gen220 wrote:
| Cunningham's Law! It is great and has many applications, when
| you're trying to squeeze good information out of a system
| that doesn't circulate it naturally.
| donw wrote:
| Universities, in their current incarnation, offer a poor return
| on investment.
|
| When a degree was scarce, it was valuable. As was when a degree
| guaranteed a certain level of knowledge and skill.
|
| But that really isn't the case nowadays. The vast majority of
| degree programs exist simply to collect tuition dollars, and the
| students that undertake these programs would be better-served by
| a vocational or professional education system.
|
| The standard counter-argument here is that you gain social skills
| in university... but the same is true when you join the
| workforce.
|
| Germany gets this one right, by the way.
|
| That is not to say that the idea of a university has outlived its
| utility! We need spaces where curious minds can seek answers from
| and challenge themselves against well-practiced experts. That's
| part of how you set a country up for future success.
|
| But that's not what we have now, not from my experience in the
| United States. What we need are Schools of Athens, but what we
| have are Temples of Amun.
| vesche wrote:
| Paywall bypass: wget -U "Mozilla/4.0"
| "https://www.bloomberg.com/news/articles/2020-07-02/nathan-
| tankus-s-newsletter-subscribers-don-t-care-about-diplomas" &&
| firefox nathan-tankus-s-newsletter-subscribers-don-t-care-about-
| diplomas
|
| I don't really like when non-formal education is highlighted as
| surprising in a talented individual. At least in the US, a
| college education will often put you in serious debt and seems to
| currently be teaching all sorts of non-technical inaccuracies
| while ill-preparing people for the real world.
|
| With so much knowledge & resources being available for free
| online: why would any smart, independent young person want to go
| to college in the US? The only reason I can think of is to become
| something that you actually _need_ to go to college for like a
| doctor or lawyer.
|
| It's pretty crazy when people like Jordan Peterson, who used to
| teach at Harvard, is suggesting that young people go to trade
| schools. The college system in the US needs to be restructured or
| die.
| runawaybottle wrote:
| It's starting to become an unspoken understanding. The same way
| we all know just because you got a HS Diploma doesn't mean
| anything.
| melling wrote:
| Shouldn't we be willing to reward his effort? It has been a
| long road.
|
| Does anyone subscribe to his newsletter?
| kelexander wrote:
| Yeah that's right
| neonate wrote:
| https://archive.is/THHp4
| WalterBright wrote:
| Anyone who has actually read _Monetary History_ is going to be
| way, way more interesting than those that get their economics
| from internet memes, slogans, and journalists.
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