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Ugh. My take home is down 30k :banghead:

How about "in 2017, you have claimed a deduction to your federal taxes due to paid state and local tax"? A lot of wage earners use the lump tax return payment as a windfall. Historically, that had a tendency of lifting up consumption in Q2. There are little anecdotal signs that it's not...

I'd like to run a quick informal survey about the impact of the changed SALT deductions on our consumption ability. Anecdotally, I hear that a lot of people have much lower tax returns or have money due which I think is gonna impact consumption. PS. for clarification, the return in the...

Considering that family offices continue to do so or are setting up their own internal groups, there is something to it, though. It's the fee structure that needs to change somehow (0 + 30 maybe).

Which means you don't have a perfect hedge :)

Historically, it never has though. Usually, it's the US that sneezes and everyone gets a fever, but EM troubles tend to be insulated to emerging markets (except for the cases when some not so smart Noble Prize laureates eat too much spinach)

You are misunderstanding what I am saying. I am not saying that they were not lucky, it's without question that getting rich is mostly attributable to luck (and the more of an outlier your wealth is, the more so). However, being well-educated and of above average intelligence is a necessary but...

While it's politically incorrect, it's hard to argue otherwise. Rich people tend to be better educated and better advised. There is, of course, a chicken and egg problem to it - many rich people are born rich (or at least most are not born poor) so they have the benefit of better nurture from...

Actually, shorting and short interest is very murky, even for broker dealers. It's pretty incredible how shady that business is.

Because rich people are smarter (on average, that's why they are rich) and remember that stocks can go down. Hedge funds and private equity are not correlated to the market (supposedly) so there is a diversification benefit to investing there. Similarly, rich people invest in all sorts of...

It's hard to make such a diagnosis based on a movie, even if we were specialists. But for sure, some wires are crossed there, blue goes where the red is supposed to and so on.

For finger training, I have a hangboard at home and a hang-free finger thingie in my office (grippul - it's a small edge plus a weight attached to it). Then I go to the climbing gym couple times a week plus I work with a climbing coach once a week. So while it's not as easy as it used to be (I...

Well, there are times to be a SJW (e.g. when you are trying to change the world for the better) and there are times to not be one (e.g. when you are trying to rip off a bunch of assholes on the floor). oh, please do tell - did you buy a yacht and marry a super-model?

Arguably the greatest, that is. People have soloed harder routes and there were several climbers who done similar things, sans the publicity aspect. For example, Dave Mcleod free soloed a 5.14b, Darwin Dixit, which is way harder than Honnolds Yosemite exploits) in Spain a few years ago. Hansjorg...

Oh, not this shit again. SPY div yield is 1.8%. Only idiots don't understand the difference between returns and yields.

When you buy S&P you don't just care about it's dividend yield but look at the total return (oh, "the stocks rallied 20% in a year", not "the div yield is now 10bps lower"). Same way, when you buy bonds it's the total return that matters. If the 10 year yield gaps up 250 basis points, total...

No horse in this race, but two interesting ideas I've heard today was - buy UAL Apr 18th, implying 4% vs 7.5% historical (and DAL earnings are a day prior, so an additional little pickup) - buy OIH Apr 26th, it captures like 70% of earnings in the basket

It does not matter what bond you look at. Change in price as a function of yield to maturity (e.g. from 2.5 to 5 as in your example) is always approximately duration * change.

Dude, that's current yield. The bond price responds to yield to maturity (that's why duration matters). PS. It's hilarious that this is happening in a thread named "amateurs have no chance"