It's all about China

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boglerdude
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Re: It's all about China

Post by boglerdude » Sun Nov 19, 2017 9:40 pm

I coulda sworn I saw the video where Trump says he would run as a republican because they'll believe anything.

Now I'm getting gaslighted lol
https://www.reddit.com/r/politicalfactc ... _did_this/

In any event, we can never know what politicians actually believe
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Kriegsspiel
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Re: It's all about China

Post by Kriegsspiel » Wed Dec 13, 2017 9:04 am

https://americanaffairsjournal.org/2017 ... rspective/
I had always thought that things happen for reasons. My parents taught me that good people get rewarded while evil gets punished. My teachers at school taught me that if you work hard, you will succeed, and if you never try, you will surely fail. When I picked up the book, I was studying math at Cambridge University and, as I looked back at the standardized tests and intense study that had defined my life until then, I could see no uncertainty.

But since reading Rubin’s book, I have come to see the world differently. Robert Rubin never intended to become the senior partner of Goldman Sachs: a few years into his career, he even handed in his resignation. Just as in Rubin’s career, I find that maybe randomness is not merely the noise but the dominant factor. And those reasons we assign to historical events are often just ex post rationalizations. As rising generations are taught the rationalizations, they conclude that things always happen for a reason.
I studied economics at Cambridge, a field which has become more and more mathematical since the 1970s. The goal is always to use a mathematical model to find a closed-form solution to a real-world problem. Looking back, I’m not sure why my professors were so focused on these models. I have since found that the mistake of blindly relying on models is quite widespread in both trading and investing—often with disastrous results, such as the infamous collapse of the hedge fund Long-Term Capital Management. Years later, I discovered the teaching of Warren Buffett: it is better to be approximately right than precisely wrong. But our professors taught us to think of the real world as a math problem.
I began working as a trader at Goldman in 2007. Goldman’s unofficial motto is “be long-term greedy.” I found that my Goldman colleagues were very smart and competitive. However, I actually didn’t see much of the “long-term” part of the “long-term greedy” culture. Goldman Sachs, even with its reputation as the top investment bank, has been involved in scandals in mortgage products, trades with the Greek government, its links with Malaysia’s corrupt 1MDB, and so on. Maybe this is due to the fact that Goldman is now a public company with a quarterly earnings call. Maybe it is because the position of the trading desk where I worked was marked to market in real time. When you see the number change in front of you from second to second—and especially when that number is not going in the right direction—even one day can feel like eternity. That tells you how long-term oriented traders are in general.
One class was about strategy. It focused on how corporate mottos and logos could inspire employees. Many of the students had worked for nonprofits or health care or tech companies, all of which had mottos about changing the world, saving lives, saving the planet, etc. The professor seemed to like these mottos. I told him that at Goldman our motto was “be long-term greedy.” The professor couldn’t understand this motto or why it was inspiring. I explained to him that everyone else in the market was short-term greedy and, as a result, we took all their money. Since traders like money, this was inspiring. He asked if perhaps there was another motto or logo that my other classmates might connect with. I told him about the black swan I kept on my desk as a reminder that low probability events happen with high frequency. He didn’t like that motto either and decided to call on another student, who had worked at Pfizer. Their motto was “all people deserve to live healthy lives.” The professor thought this was much better. I didn’t understand how it would motivate employees, but this was exactly why I had come to Stanford: to learn the key lessons of interpersonal communication and leadership.
My favorite class was called “Interpersonal Dynamics” or, as students referred to it, “Touchy Feely.” In “Touchy Feely,” students get very candid feedback on how their words and actions affect others in a small group that meets several hours per week for a whole quarter.

We talked about microaggressions and feelings and empathy and listening. Sometimes in class the professor would say things to me like “Puzhong, when Mary said that, I could see you were really feeling something,” or “Puzhong, I could see in your eyes that Peter’s story affected you.” And I would tell them I didn’t feel anything. I was quite confused.

One of the papers we studied mentioned that subjects are often not conscious of their own feelings when fully immersed in a situation. But body indicators such as heart rate would show whether the person is experiencing strong emotions. I thought that I generally didn’t have a lot of emotions and decided that this might be a good way for me to discover my hidden emotions that the professor kept asking about.

So I bought a heart rate monitor and checked my resting heart rate. Right around 78. And when the professor said to me in class “Puzhong, I can see that story brought up some emotions in you,” I rolled up my sleeve and checked my heart rate. It was about 77. And so I said, “nope, no emotion.” The experiment seemed to confirm my prior belief: my heart rate hardly moved, even when I was criticized, though it did jump when I became excited or laughed.

This didn’t land well on some of my classmates. They felt I was not treating these matters with the seriousness that they deserved. The professor was very angry. My takeaway was that my interpersonal skills were so bad that I could easily offend people unintentionally, so I concluded that after graduation I should do something that involved as little human interaction as possible.
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dualstow
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Re: It's all about China

Post by dualstow » Wed Dec 13, 2017 1:04 pm

boglerdude wrote:I coulda sworn I saw the video where Trump says he would run as a republican because they'll believe anything.

Now I'm getting gaslighted lol
https://www.reddit.com/r/politicalfactc ... _did_this/

In any event, we can never know what politicians actually believe
I know some people here don’t like Snopes, but-
https://www.snopes.com/1998-trump-people-quote/
Even Obama called out cancel culture last week and he was derided for it.
boglerdude
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Re: It's all about China

Post by boglerdude » Thu Dec 14, 2017 1:57 am

Nope, I saw the vid. It was the kind of thing he'd say so I wasnt shocked enough to download the video.

https://www.reddit.com/r/politicalfactc ... _did_this/
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Kriegsspiel
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Re: It's all about China

Post by Kriegsspiel » Thu Dec 14, 2017 2:45 pm

‘IT’S JUST A WASTE OF MONEY’: CHINESE STUDENTS REGRET ENROLLING IN US UNIVERSITIES
“My advice is that unless you can go to Ivy League schools or good universities in big cities like New York and Los Angeles, don’t bother to come to the US because it’s just a waste of money,” he said.

“The reality is that I am going to a university that is not as good as the one I could have gone to in China, and our family is out 2 million yuan ($302,000).”

Hang Wei graduated with a bachelor’s degree in media from Purdue University two years ago but regrets it.
Heh.
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technovelist
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Re: It's all about China

Post by technovelist » Thu Dec 14, 2017 9:13 pm

Kriegsspiel wrote:‘IT’S JUST A WASTE OF MONEY’: CHINESE STUDENTS REGRET ENROLLING IN US UNIVERSITIES
“My advice is that unless you can go to Ivy League schools or good universities in big cities like New York and Los Angeles, don’t bother to come to the US because it’s just a waste of money,” he said.

“The reality is that I am going to a university that is not as good as the one I could have gone to in China, and our family is out 2 million yuan ($302,000).”

Hang Wei graduated with a bachelor’s degree in media from Purdue University two years ago but regrets it.
Heh.
Sounds like these Chinese students are smarter than the US students, who generally don't figure out that it's often a waste of money very quickly. :P
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Kriegsspiel
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Re: It's all about China

Post by Kriegsspiel » Sun Nov 11, 2018 1:47 pm

https://www.scmp.com/news/china/society ... how-be-men

How many Westerners shit themselves in rage after reading this?
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Mountaineer
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Re: It's all about China

Post by Mountaineer » Sun Nov 11, 2018 4:55 pm

Not me for men being men and being thankful they are in a culture that is appreciative that men are exercising their gift of manhood - and hopefully women are likewise celebrated for their womanly gifts. Trying to make all equal isn’t realistic. Some think going for the lowest common denominator is progress. Personally, if I am in a really tough spot, I would rather have the 250 lb well trained manly man there to bail me out than a Swartznegger “girly man”.
Romans 1:16-32
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Re: It's all about China

Post by jacksonM » Wed Nov 14, 2018 10:58 am

http://www.unz.com/freed/intelligent-de ... -environs/

Fred Reed on his trip to China....
For anyone who knows what China was before Deng Xiaoping took over in 1978, after Mao made his greatest contribution to his country–he died–the growth of prosperity astounds. Many criticisms may be made of the Chinese government, some of them valid, but no other government has lifted so many people out of poverty so fast.
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Kbg
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Re: It's all about China

Post by Kbg » Wed Nov 14, 2018 6:08 pm

dualstow wrote:
Thu Nov 16, 2017 2:50 pm
Interesting piece.
Not really. It shows gross ignorance about how a modern monetary system works. Macro money does NOT work like our money.

At the end of the day, China is sending us tangible things. They are getting US dollars in return which can be inflated, deflated or held stationary.
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Kriegsspiel
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Re: It's all about China

Post by Kriegsspiel » Wed Nov 14, 2018 7:48 pm

Kbg wrote:
Wed Nov 14, 2018 6:08 pm
dualstow wrote:
Thu Nov 16, 2017 2:50 pm
Interesting piece.
Not really. It shows gross ignorance about how a modern monetary system works. Macro money does NOT work like our money.

At the end of the day, China is sending us tangible things. They are getting US dollars in return which can be inflated, deflated or held stationary.
How does your comment relate to that article? You're saying that American's "could" do it by taking out our own loans? Your second paragraphlet was kind of the point of the article.
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Kbg
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Re: It's all about China

Post by Kbg » Wed Nov 14, 2018 10:27 pm

I may have read the article too quickly...if I did, apologies! :-[
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