Rationality Quotes June 2014

Tyrrell_McAllister

Another month, another rationality quotes thread. The rules are:

Please post all quotes separately, so that they can be upvoted or downvoted separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
Do not quote yourself.
Do not quote from Less Wrong itself, HPMoR, Eliezer Yudkowsky, or Robin Hanson. If you'd like to revive an old quote from one of those sources, please do so here.
No more than 5 quotes per person per monthly thread, please.
Provide sufficient information (URL, title, date, page number, etc.) to enable a reader to find the place where you read the quote, or its original source if available. Do not quote with only a name.

Another month, another rationality quotes thread. The rules are:

Please post all quotes separately, so that they can be upvoted or downvoted separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
Do not quote yourself.
Do not quote from Less Wrong itself, HPMoR, Eliezer Yudkowsky, or Robin Hanson. If you'd like to revive an old quote from one of those sources, please do so here.
No more than 5 quotes per person per monthly thread, please.
Provide sufficient information (URL, title, date, page number, etc.) to enable a reader to find the place where you read the quote, or its original source if available. Do not quote with only a name.

I have a weird feeling that a bunch of people on LW have decided that there's nothing to be done in financial markets (except invest in index funds), fully committed to this belief, and actively resist any attempts to think about it... :-/

Isn't this optimal? The case for index funds by ordinary investors is extremely strong, and if there exists good evidence to the contrary it will be of the form that is almost certainly beyond the ability of most LW people to properly evaluate.

2EHeller12y

I tend to think that the current markets are efficient enough that putting my money in index funds is about the best I can do from a time/opportunity cost perspective. The professionals I know working for hedge funds do routinely find small inefficiencies, but in order to make them profitable enough to be worth the time investment, they generally have to exploit quantities of leverage I don't have access to as an individual. If you enjoy pouring over the market looking for details to exploit, then it can be a use of leisure time I guess. I pour over enough data at work that spending free time pouring over more in order to achieve fairly small gain just doesn't seem worth it.

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