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jaymani comments on Welcome to Less Wrong! (2010-2011) - Less Wrong

42 Post author: orthonormal 12 August 2010 01:08AM

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Comment author: jaymani 12 August 2010 06:24:17PM 10 points [-]

I am new to this site. I am a former Mortgage and Derivatives Trader on Wall Street. I am one of the few ex Wall Streeter’s who has experienced a crisis of conscience. I am an empirical skeptic who is cynical by nature but I have only recently started to sit down and try to figure out why people act stupidly and irrationally. Naseem Taleb, author of the Black Swan & Fooled By Randomness is one of my favorite authors and I truly believe that after all of my years trading it all comes down to random luck not any type of skill.

Comment author: simplicio 15 August 2010 04:25:44PM 0 points [-]

Welcome, great intro!

Do you think there are any types of traders who are closer to the mark? It's been a while since I read Black Swan, but I seem to recall Taleb was a "quant," and that he made a good deal of money thereby (NB: I have near zero knowledge of finance of any sort).

Comment author: adsenanim 13 August 2010 05:56:25AM 0 points [-]

jaymani,

Have you seen:

http://www.pbs.org/wgbh/pages/frontline/creditcards/ ?

Luck may be a small part, but I think cognition is the better part.

Sorry, if this is to bold, I'm new at this as well.