Re:How the Flash Crash Trader’s $50M Fortune Vanished
by charlesdm on Friday February 10, 2017 @11:59AM
(#13616853)
If he did 30x a year, he must have been the best investor in the world?
[ Parent
| on HN ]
Re:How the Flash Crash Trader’s $50M Fortune Vanished
by btilly on Friday February 10, 2017 @02:45PM
(#13618266)
No, it just means an insane beta and good luck. Anyone can set up the lottery to create an insane beta. And luck, well, you know how that goes.
Re:How the Flash Crash Trader’s $50M Fortune Vanished
by shoo on Friday February 10, 2017 @03:57PM
(#13618822)
you can't judge skill from outcomes in the short run if a large component of the outcome is outside of the control of the operator
see e.g. Taleb "fooled by randomness"
there's also a good "winner's game" vs "loser's game" argument, see Ellis - The Loser's Game: http://www.cfapubs.org/doi/pdf/10.2469/faj.v51.n1.1865 (PDF)