I read this 10-12 years ago. It’s an extremely niche book. But folk don’t really understand markets if you can’t wade through something like this. The market is the microstructure, not the macro stuff.
I couldn’t get through this book today, but at the time it was a revelation. Trading isn’t about predicting anything, it’s basically akin to fishing.
You just have to sit patiently and wait until you detect a big investor trying to move a lot of capital (either buying or selling) in tight liquidity and then you front run them in small volume for a razor thin premium. Get greedy and they stop the flow and you’re left holding someone elses baby. But most big funds will tolerate some traders leading them.
Eventually you can even end up communicating through the limit order book, using game theory.
The likes of Citadel automated the “fishing” and they scaled up by spreading it thinly across many instruments. AFAIK.
Turned it into an engineering problem.
https://www.amazon.co.uk/Arbitrage-market-microstructure-limit-order/dp/3838102622
Sounds like Bluesky is attracting the right kind of people! 😬🤣
Filtering for FOMO-types is an interesting play.
I’m referring to Citadel and the big funds that stepped in when primary broker and investment bank prop desks were shut down in the aftermath of 2008.
No idea what GPT stock picker is doing? I would guess it’s based on value investing and not any sophisticated trading.
Again, I’m just making an educated guess. I don’t actually know.
I don’t think they predict anything, they mostly just automated arbitrage.
Maybe they can detect large buyers and predict capital flows to front run?
But I doubt they really predict any market moving events at all, or stock performance, or technical analysis.
Suspect they are 100% concerned with high frequency arbitrage and detecting liquidity flows.
Could of course be wrong.
🚨 Candidly 🚨
I think Damus looks amazing, it’s really very crisp. Aesthetically, it looks better than the big social media platforms do.
I like the branding and the colours (but some buttons are flat v’s some are blended?).
But at times the app can be very laggy. Not unusable, but noticeable enough to blunt the UX.
Now… obviously nostr is a bit different as client and infrastructure are not common entities, so it could be a sluggy relay or a clientside problem.
But it would be very nice if there was a page in settings that said…
Your lag / ping / latency = X ms
Client average in your region = Y1 ms
Nostr average in your region = Y2 ms
Client average globally = Z1 ms
Nostr average globally = Z2 ms
Or something like that, so at least I get a reference / benchmark and can self diagnose / fix / ignore any blunted performance.
In nostr it is outside the power of the client to deliver fast UX, but client can give the data to allow user to optimise for their use case.
Community can then bootstrap newbs to optimal performance, without clients needing to scale any kind of unscalable tech support type feature.
Just an idea #[0]
The great irony is that nostr is a humble and wholesome community experience but exists in the absence of so much “safeguarding”.
Goodbye realty, we hardly knew ye.
Even 8% battery usage is a lot of load. It’s doing something heavy even when turned off?
Wow,
22% of my iPhone battery usage in recent days has been Twitter’s “Background App Refresh”, anyone else seeing anything like that?
Obviously toggled that permission off now.
I might actually delete the app, what the hell is it doing?
It’s a big paradigm leap in sourcing and digesting information.
Lots of naysayers are really yelling “look how bad I am at using this new tool!”.
Really you need to get into the API version asap and build some very simple web apps. Even these are an order of magnitude more powerful than the vanilla web UI that OpenAI provide for $20pcm.
So far all mass market AI tools are pretty crappy because the safeguarding and idiot proofing blunts the thing so much.
The real delta move under way is B2B and internal industrial stuff.
Joe Bloggs just isn’t ready for B2C AI, B2C isn’t where the value is this time. Consumers be damned, they’re gonna be left behind.
#[1]‘s hard won wisdom on precisely this issue continues to age like a Michelangelo. 
What would the founding fathers make of the debt ceiling?
*****
George WashingtonGPT: "Friends and Citizens, the challenge of debt accumulation, now hinged on a mere procedural notion known as the 'debt ceiling', is an issue of pressing concern. In my day, we deeply contemplated the nature of public credit and our responsibility towards it. As I once warned, 'To contract new debts is not the way to pay old ones.' However, I also understood the need for national debts, in times of crisis, to fortify our strength and unity. The ever-extended debt ceiling perplexes me, for it appears that we are bargaining with our own credibility and futures, without due consideration for the ensuing impact. Must we not rather aspire to a course of wisdom, temperance, and prudence? To endlessly prolong the problem, rather than address it, seems contrary to the spirit of responsibility we hoped to cultivate in our nation."
Thomas JeffersonGPT: "Esteemed Compatriots, the phenomenon you describe, this 'debt ceiling', is indeed concerning and seemingly opposed to my fervent views on fiscal policy. I was a staunch proponent of financial restraint, maintaining that 'the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.' This perpetual suspension of the debt ceiling, this strategic deferment of responsibility, seems a departure from the ideals of fiscal prudence and the sanctity of future generations' rights. We ought to return to the frugality and restraint that characterized the early days of our Republic."
Alexander HamiltonGPT: "Esteemed Colleagues, the matter of the debt ceiling is a curious one indeed. As one who once advocated for a national debt, if it were not excessive, to be a national blessing, I find this practice somewhat befuddling. The mechanism of the debt ceiling appears to function as a mere formality, perpetually raised and thus creating a facade of control over burgeoning national debts. What was intended to provide checks and balances, has become, it seems, a political tool for brinkmanship. It is an affront to the stability and predictability necessary for a well-functioning economy."
James MadisonGPT: "Respected Co-citizens, as I regard this peculiar mechanism you call the 'debt ceiling', it appears to distort the very structure of our government that I once helped to forge. Our Constitution was designed to balance power, to prevent the misuse or overreach of any one branch or faction. The incessant wrangling over the debt ceiling, however, seems more a symptom of factionalism and less a genuine effort to address our fiscal responsibility. I have always maintained that 'Public opinion sets bounds to every government, and is the real sovereign in every free one.' As such, the ongoing extension of the debt ceiling must be met with careful public scrutiny and conscientious debate."
Desperation for a truth is a vulnerability.
Learn to be comfortable with uncertainty.