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I'm in the second world so a rule-of-thumb answer is by setup, difficult. In a first world it'd be "simple" as you put it, keep your high paying job, save aggressively and compounding will take care of you. In a thirld world it's also "simple": get the fuck out of there if you can. GDP PPP per...

>> how much prep work you’ve already done I've a pretty good grasp of financial mathematics but I do notice I'm getting rusty unless I invest time into (re)learning it. Since I don't have much time for my stuff, I favored experimentation using what knowledge I got so far rather than learning...

I'm seriously thinking of also walking the path pioneered by Fan27. At the moment I'm employed with a good salary but in a domain completely unrelated to my interests, experience and drive. Perhaps it's possible to live a life of grindwork when you've got zero drive to it, but if I can help...

I admire Ironchef for keeping cool in front of blatant attacks. As a latin + slav + turk (i.e. Balkan) guy, my blood would have already boiled to the point of this: Give the guy a break, eh?

I second what gaussian says. I worked for a while in the industry and eventually had to cover a lot more than just options: yield curve bootstrapping, variance and volatility swaps, interest rate and equity swaps ... they're all covered in Hull's book. On the second part, now I don't feel so...

In case you wanna enter an association with me, here are my answers to the list of questions: 1 - 2) How much money will I allocate for research and development? $1000 / month for a period of up to three years. 3) How much money will I allocate for trading? $10,000 - $20,000 trough an...

So always have as plan A the path trough #1, #2 and #3 all by yourself, on your own money. Only as plan B and welcomed (but unlikely) nice alternative consider associating with one or a few other traders and do #1, #2 and #3 with shared money. Again, I'm emphasizing, you need to consider costs...

Fact of life: if you don't have the required money for #1, #2 and #3 ALL BY YOURSELF, you're 99% doomed to fail!

I think there are three factors needed for success in finance and they all can be measured in money. For each factor, how much money do you allocate? 1) Research. You need to look for ways to beat the market (call them strategies) and fact is most attempts will fail. Some will hold but finding...

>> It's not illegal UNTIL you're making the law

Not that I don't understand the left side of the equation (being born right there). I got born disadvantaged, with no money and no power. 40 years after, the $1Quadrillion+ I'm asking for money or power say they've noting of them, albeit they somehow make a living if not for themselves then for...

It's also not like if you're making the law, it makes it all legal. There's a (fine?) line between then and depending how you count I was born right of it: would rather support a few powerful people than billions upon quadrillions of imbeciles.

I'd like to patent a quote: "It's not illegal if you're making the law". I did propose you in the very beginning of my posts here what will become a quadrillion-dollar company in the end, what I didn't realize back then is that it takes more than a random bunch of mutually cancelling...

If you wanna understand how this world works (and why would you unless you wanna change that), apart from living in the general vicinity of where things happen (read: Holocaust and Gulag), it's also important that you understand not just how and what but also WHY they happened. For that, read...

I'm trying to understand (for myself) why this drive of mine to speak to strangers on a relatively obscure (albeit specialized) forum and talk them into associating with me for a common enterprise ("beating the markets") rather than looking around me. And it's not like I couldn't find here guys...

Another thing if you look at human history is that communication and association with humans at considerable distance was a key element. Presumptively Neantherthals were wiped out precisely because of reticency or inability to bond with strangers and always preferred or limited their choices to...

Allright, pivoting. What if instead of investing in "AI" you'd instead go for "NI"? Instead of employing simple neural networks to do pattern matching, go for highly complex synapse connections to do physical phenomena identification. Don't use just one "computer" (human in NI case). And don't...

Well it's not that simple. Going down or up, for sure. How much and when it's still to be determined. Which is exactly why it's so interesting and there are very few places on this Earth where I could be at the moment and make a greater impact. Again I'm telling you, we could crash into the...

Anyone home? AI is dumbfuck computers recognizing patterns. GI (general intelligence) are computers getting a sense of self. NI are dumbfuck humans wining pattern-recognizing competitions like math olimpics (held this year in my city) or getting hired at Google. NG are humans getting a sense...

Anywayz I'm drunk and I'm tired so time for some serious philosophy on the programmers thread :P