The poker face of Wall Street

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• lordnacho · May 27, 2018 · Recommends

  The Poker Face of Wall Street by Aaron Brown Tied together a lot of concepts from my undergrad with my new work, and on top of it also Poker, which became one of my main analogies for life.

  on “Ask HN: What's one book that changed your life?” ↗
• kqr · Aug 21, 2021 · Recommends

  …1. Be very careful. When shit hits the fan and you need that independence most, all correlations go to 1. Related to the above, understand the cut-throat nature of the business. Actually, reading The Poker Face of Wall Street by Aaron Brown might help with this. The difficult part is not winning big; the difficult part comes after that, when you need to convert people's promises into money and successfully walk out with it.…

  on “Show HN: Duedilly.io – Accuracy of Reddit Trading Ideas” ↗
• lordnacho · Jul 8, 2021 · Recommends

  …mostly macro traders IIRC. Ed Thorpe's memoirs are pretty good at tying a certain kind of mathematical thinking to the markets. The Renaissance Technologies book that recently came out is excellent too. Poker Face of Wall Street, another one of those about connections between games and markets. This would provide a grounding in being able to understand the kind of stuff Matt Levine writes, he writes good stuff but it's so diverse…

  on “An Intern’s Guide to Trading” ↗
• kqr · Feb 23, 2021 · Recommends

  …about locking in prices (any regular contract can do that) or hedging (the people who supposedly would hedge don't) but about creating an implicit loan market for commodities, among other things. - The Poker Face of Wall Street: a wandering tale on the similarities between betting, speculation in financial instruments, and insurance, among other things. - The (Mis)Behaviour of Markets: Benoit Mandelbrot summarises some of his…

  on “Four Basic Truths of Macroeconomics” ↗
• jcarden · Feb 28, 2012 · Recommends

  …History of the Night in Early Modern Europe(http://amzn.to/zywusB). I started the Big Short too, but just couldn't really get into it. If you like things along that line then you should check out The Poker Face of Wall Street (http://amzn.to/zcbYHy)

  on “Ask HN: Best non-technical book you've read lately? ” ↗
• time_management · Dec 12, 2008 · Mentions

  …common. When people can only go long, there's a desire to buy in order to be "participating", and there's also the effect of the Winner's Curse. One interesting result I read about in Aaron Brown's The Poker Face of Wall Street involved a mock security that would mature either to $0 or $20, with a 50% chance of each. The participants would be given index cards; half of the cards had the security's correct value, and half were…

  on “Why asset bubbles are a part of the human condition that regulation can’t cure” ↗
• vm · Oct 17, 2017 · Mentions

  …Thorp, Myron Scholes, Robert Merton, and Fischer Black all had almost the same formula, but each had a different reason for believing it was true. Ed showed that it was a way to make money..." Source: The Poker Face of Wall Street (Wiley 2006)

  on “The Crash of ’87, from the Wall Street Players Who Lived It” ↗