Darren r-σ²/2 (@ReformedTrader)

1/ Hedge Fund Market Wizards (Jack Schwager) Thread with quotes from the book "This volume is part of my continuing effort to meet with exceptional traders to better understand the elements underlying their success." <a target="_blank" href="https://www.amazon.com/Hedge-Fund-Market-Wizards-Winnin...

88/ "The core of the risk management is evaluating the risk of each market based on an exponentially weighted moving average of the daily dollar range per contract. "Through the chaos of 2008 and 2009, our volatility remained very near our target level of 12%." (p. 155)...

1/ Fortune's Formula (William Poundstone) "Even unlikely events must eventually come to pass. Therefore, anyone who accepts small risks of losing everything eventually _will_ lose everything. The compound return rate is acutely sensitive to fat tails." <a target="_blank" href="https://www.amazon.c...

1/ Expert Political Judgment (Philip Tetlock) "What experts think matters far less than how they think. We are better off with experts who draw from an eclectic array of traditions and accept ambiguity/contradiction as inevitable features of life." (p. 2) <a target="_blank" href="https://www.amazon...