Don’t think I disagree, I’ve made a very similar point to yours in a previous LW thread here.
Also, my point is not that the gains from being a correct contrarian in the financial market always outweigh the social punishment for contrarianism, or that you can always trade between the two currencies. But despite being frozen out of investing, Michael Burry is still a multi-millionaire. That is an interesting observation. It’s related to why I think Robin Hanson is excited about prediction markets—they present a remarkable degree of robustness to social status games and manipulability.
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Also I’m very curious about the outcome of Taleb’s investments (some people say they’re going awfully, which is why he’s selling books...), so please share any links.
Don’t think I disagree, I’ve made a very similar point to yours in a previous LW thread here.
Also, my point is not that the gains from being a correct contrarian in the financial market always outweigh the social punishment for contrarianism, or that you can always trade between the two currencies. But despite being frozen out of investing, Michael Burry is still a multi-millionaire. That is an interesting observation. It’s related to why I think Robin Hanson is excited about prediction markets—they present a remarkable degree of robustness to social status games and manipulability.
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Also I’m very curious about the outcome of Taleb’s investments (some people say they’re going awfully, which is why he’s selling books...), so please share any links.