Breaking the Proscenium Arch

Added on by C. Maoxian.

From John Leo’s interview on Booknotes.

“McLuhan was really right about a lot of things … basically he said that any new medium, any one of the many new media that come along, will totally disrupt the society and produce a new personality type, and we're seeing it now and we saw it with print. Basically, if you apply McLuhan's analysis to the electronic media, you're saying that everything that print produces is now on the way out. In McLuhan terms, print produces privacy, a linear approach to things, a logical, orderly approach to things and sequence. The electronic media breaks all that down. There is no left to right; there is no sequence. In the electronic media everything's all at once, and if it isn't all at once, it's -- there's no sense to the sequence. You see a killing in Vietnam, you see an ad, you see a puppy story in the news -- it's just a jumble of things happening. McLuhan predicted that each new media would change the world, and I think he's right.

McLuhan forces us to think how important the media are to the culture and what they do to the culture. People are always up in arms about the content of the media -- too much violence or too much nudity. But McLuhan said, it isn't the content that will do you in; it's the form of each medium itself. ‘The medium is the message’ was his cliche, aphorism. What he meant by that is, don't worry about the content. The content is always the old medium. When the movies came along they thought they were stage plays, and they kept presenting movies as stage presentations. They didn't know that the form demands action; it breaks the proscenium arch; it's a whole different approach. Anyhow, McLuhan understood that when the electronic media came, that it would produce what he called the "global village," that just as CNN, C-SPAN are binding us together, all around the country, all around the world, we no longer have the privacy of individual print cultures. We're going to have a universal language; it will be electronic language.”

Movies Watched -- Unsane (2018)

Added on by C. Maoxian.

97 minute running time … turned out to be more of a horror movie than a thriller … weird camera angles to make you uncomfortable, but the story here was kind of dumb … how would the stalker know she would be admitted to that facility? A flaw like that kind of ruins it completely for me … unnecessarily violent, esp. the ending … lame Millennial movie, give it a miss. Had no idea it was a Soderbergh movie, that means the critics will be overly kind. Don’t see it.

Two nights at the Hyatt Regency

Two nights at the Hyatt Regency

Movies Watched -- Galveston (2018)

Added on by C. Maoxian.

93 minute running time … I would have cut the scene with the black ex-girlfriend to tighten it up … this wasn’t terrible, but it’s also not good enough to recommend … it’s grim, not a feel-good story … heavy True Detective vibe (despite the director’s best efforts) … Ben Foster is getting a lot of work, he was in Leave No Trace and Hell or High Water (neither of which I liked), but you can tell he tries hard as an actor … never seen Elle Fanning before, but she has pretty good white trash stringy blonde hair and can weep at length … very violent and the story is totally contrived and doesn’t make much sense, but again, it wasn’t bad, the actors got a chance to work hard (and it’s obvious when they can’t pull off a scene despite their struggles). Not terrible though, which is high praise for a recent movie.

You’re disgusting.

You’re disgusting.

Movies Watched -- Diary of a Lost Girl (1929)

Added on by C. Maoxian.

This version 113 minutes long, cobbled together and thought to be close to Pabst’s original intention … his last silent picture … another great movie from the Weimar era (I guess the greatest? was The Blue Angel (1930)) … Louise Brooks, so beautiful and a talented actress to boot … morality tales well told … lots of ascending and descending stairs, money changing hands, and a firm grip on shoulder or back of neck (!) if you enjoy your obvious symbolism. John Farr liked it (“arch condemnation of moral corruption at the heart of the German soul“), and I too give it a green-go rating.

Ein wenig mehr Liebe und niemand kann verloren sein auf dieser Welt!

Ein wenig mehr Liebe und niemand kann verloren sein auf dieser Welt!

Notes for Chat with Traders, Episode 198

Added on by C. Maoxian.

Episode 198 ... Christina Qi

  • "That's a really great question."

  • Went to MIT

  • Dormmate staked $100K by rich kid roommate at Harvard, made $40K with it

  • Didn't like environment/culture (hazing) at place she interned (Goldman), wanted to start her own place

  • "No thought leader in the space."

  • "That's a great question."

  • Had no money, no credibility, no connections [except for MIT/Harvard]

  • Raised venture capital, built all technologies from scratch, create operational side

  • People invest in people at the angel/seed stage

  • Raising money for the fund another matter, you need numbers, backtests at least

  • No one has ever seen a bad backtest

  • "What's interesting, Aaron, is that...."

  • "That's a good question."

  • HFTs changed language post-Flash Boys to "low latency trading" or "electronic market making"

  • Their highest trading volume this year (2020) was 7.1 billion shares in a day

  • They don't buy order flow

  • Took two and a half years to build the system

  • Felt like a fraud up till launch, no track record

  • Everyone at domeyard was called a partner, free food, unlimited vacation ... all bad ideas, naive mistakes

  • Giving people too much choice is a bad thing

  • On average, recently, they do 2,500 trades per day ... could be 25,000 depending on environment

  • Holding periods are microseconds to hours (latter called mid-term strategies)

  • Flat at end of day, always

  • "Good question!"

  • One losing day can wipe out 29 days of profits

  • They mainly trade futures and forex, not equities

  • Aim for 1-3% of average daily volume of the products they trade

  • They try to predict market a few seconds out

  • Mainly use order book market data

  • Half life of a strategy could be one to three months

  • "That's a really interesting question."

  • Trading strategies are constantly being monitored by humans, tweaking the code

  • They don't play the hardware game ... next year there will be a new FPGA after all

  • "That's a great question."

  • Not many HFT firms that were around a decade ago are still around

  • Can't talk about returns, considered marketing

  • Also works on a project called databento

  • domeyard dot com is a suspended webpage?

  • Twitter: @christinaqi

FOMO Inducing Tweets for June

Added on by C. Maoxian.

A collection … if I missed any, please send them to me and I’ll add them:

Sweet Songs and Empty Tummies

Added on by C. Maoxian.

Warren Buffett in 2019:

“In the end, it all goes back to Aesop, who in 600 B.C. said that a bird in the hand is worth two in the bush, and when we buy Amazon we try to figure out whether there’s three or four or five in the bush, and how long it will take to get to the bush, how certain are we going to get to the bush, and who else is going to come and take the bush away.”

The original:

Luscinia, ab accipitre famelico comprehensa, cum se ab eo devorandam intellegeret, blande eum rogabat ut se dimitteret, pollicita pro tanto beneficio ingentem mercedem sese relaturam. Cum autem accipiter eam interrogaret quid gratiae sibi referre posset, “Aures,” inquit, “tuas mellifluis cantibus demulcebo.” “At ego,” inquit accipiter, “malo mihi ventrem demulceas. Sine tuis enim cantibus vivere; sine cibo non possum.”

Movies Watched -- Charley Varrick (1973)

Added on by C. Maoxian.

110 minute running time so about ten minutes too long … clearly inspired the Coen Brothers’ when making No Country For Old Men and mad genius Tarantino’s “getting medieval on his ass” … Walter Matthau the least sexy man in the world, but I guess they had fun with that … Joe Don Baker plays a good psychopath, slapping the ladies and telling them “he don’t sleep with whores, at least not knowingly.” It wasn’t a terrible movie, in many ways it was good, but I’m not going to put it on my Top 500 list or give it a green-go rating. There’s a rare anti-Semitic jibe where Norman Fell is called a “bright little bagel snapper.” John Farr liked it and I must have gotten the reco from him.

He says his name is Sally.

He says his name is Sally.

AIDS Alarmism

Added on by C. Maoxian.

From Michael Fumento’s interview on Booknotes:

“… your average white, heterosexual, middle-class person … their chance of getting AIDS is actually lower than their chance of either being struck by lightning or drowning in a bathtub … your typical heterosexual AIDS victim … is a black or Hispanic female who's living in the New York-New Jersey area whose steady sexual partner--we're not talking promiscuity here--steady sexual partner is an intravenous drug abuser. And for these women, they probably have a better chance of dying of AIDS than anything else …  I think we're being horribly cruel when we pretend that we're all at equal risk. You're lying to people or deceiving them at any rate, and I think at the margin, people will die because we're giving them this false, `everybody's going to get it,' or `everybody's at risk' message.”

I remember I had to take an HIV test in 1988 to get a visa to study abroad in China, and the dumb woman doctor who got the test result back said, “take a look at the result here on this paper,” which sort of alarmed me (of course I was negative), but I realize now that she was caught up in the whole AIDS hysteria at the time.