Peter Thiel in regards to Twitter - “The broader question is, Is it going to help people have a much higher quality of living? And I think on that score, its benefit is a lot less.” - I think the people of emerging revolutions might disagree. Or wait, maybe only Facebook can help improve quality of life?
when you lose money, the market is rational. when you make money, you can say it was because of the market's inefficiency or irrationality. or maybe it is irrational to construct a trading strategy that relies so much on luck, with a few large trades that cannot be sufficiently characterized statistically. how can you know what your edge is, in terms of probabilities, on your long-term macro calls on oil or the dollar?
