books | Wall Street Financier: Notes from High Altitude© https://wallstreetdealmaker.com He who makes a beast out of himself gets rid of the pain of being a man. Sat, 06 Aug 2022 19:56:25 +0000 en-US hourly 1 https://i0.wp.com/wallstreetdealmaker.com/wp-content/uploads/2018/12/pitbullgif.gif?fit=32%2C22&ssl=1 books | Wall Street Financier: Notes from High Altitude© https://wallstreetdealmaker.com 32 32 155119938 Sadhguru’s Karma: a yogi’s guide book summary https://wallstreetdealmaker.com/2022/08/sadhgurus-karma-a-yogis-guide-book-summary/ https://wallstreetdealmaker.com/2022/08/sadhgurus-karma-a-yogis-guide-book-summary/#comments Sat, 06 Aug 2022 19:56:23 +0000 https://wallstreetdealmaker.com/?p=2644 I have made a few posts here on Sadhguru, the Indian mystic, and posted a few of his speeches and commentaries. Today I’ll do a summary of his latest book from 2021, Karma: A Yogi’s Guide to crafting your destiny. Needless to say the book is recommended reading. Sadhguru’s speeches … Continue ReadingSadhguru’s Karma: a yogi’s guide book summary

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I have made a few posts here on Sadhguru, the Indian mystic, and posted a few of his speeches and commentaries. Today I’ll do a summary of his latest book from 2021, Karma: A Yogi’s Guide to crafting your destiny. Needless to say the book is recommended reading. Sadhguru’s speeches are widely available worldwide; listen to them and gain the most precious gift of life: wisdom.

Sadhguru touches on a concept foreign and misunderstood in the West, the concept of “joy”. Pleasantness or “sweetness” of life is a strange concept to the rigorous, practical mind of the Western-European societies. Sadhguru is a deep thinker and a master story-teller.

What is Samadhi ?

“A mirror simply reflects everything. Nothing sticks to it; no residue is left upon it, and it never makes any judgement about what it reflects. It does not discriminate between pleasant and unpleasant, beautiful and ugly. When your mind becomes like this, you are in a state of samadhi.”

Karma, by sadhguru

“If you function unconsciously, your karma rules you absolutely. “

If you are willing to be absolutely conscious, the past has no impact on you. On this blog, I advanced the concept there is no such thing as time (and got 25,000 haters in 2019 for saying it).

Sadhguru says that, aside from bathing and showers, simply standing in the wind can be effective as a cleansing process. Sadhguru gives you a simple “do it when waking up” movement to make sure you’re fully awake and alive; for obvious reasons I won’t describe it here- we do want you to buy his book and read it.

The key takeaway from the book, the tl;dr also found in his talks and interviews is to perform each action with total involvement and intensity: absolute involvement: no tinkering, no half-way jobs. Not bothered by the result. That’s your release from karma.

“Be equally involved with everything without any distinction.”

Karma, A yogi’s journey

I will tip my hat to this old Indian sage, and urge you to get his books, listen to his talks and discover your truth.

Until next time,

Your Man,

Max Cantor

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World’s most mysterious book https://wallstreetdealmaker.com/2021/09/worlds-most-mysterious-book/ https://wallstreetdealmaker.com/2021/09/worlds-most-mysterious-book/#respond Mon, 27 Sep 2021 16:35:43 +0000 https://wallstreetdealmaker.com/?p=2482 The WSJ had a piece two days ago on the Voynich Manuscript, dubbed “The World’s Most Mysterious” book. “The Voynich manuscript is an illustrated codex hand-written in an unknown, possibly meaningless writing system. The vellum on which it is written has been carbon-dated to the early 15th century (1404–1438), and it … Continue ReadingWorld’s most mysterious book

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The WSJ had a piece two days ago on the Voynich Manuscript, dubbed “The World’s Most Mysterious” book. “The Voynich manuscript is an illustrated codex hand-written in an unknown, possibly meaningless writing system. The vellum on which it is written has been carbon-dated to the early 15th century (1404–1438), and it may have been composed in Italy during the Italian Renaissance.” -Brainly.

“The text was written in either a code that has not yet been cracked or a natural language and cipher that haven’t yet been identified. Its numerous illustrations of plants, astrological signs and women in thermal baths might point to its meaning—but for the fact that none of the plant species has so far been identified and the astrological signs correspond to none that we know. The women seem to be engaging in a sort of therapy common to many parts of Europe in the 15th century, but where they are precisely, and why they are bathing together in vast waterworks connected by strange tubes and ducts, is anyone’s guess.+

Justin E.H. Smith, Wall Street Journal, Sept. 25, 2021

“For awhile, scholars suspected that Voynich created the manuscript himself as a hoax. The book dealer’s larger-than-life biography, which included a stint in a Russian prison and a trek across the Mongolian desert, seemed to lend credence to such theories”

WSJ

The manuscript is currently in the possession of Yale University’s Beinecke Library.

“Recent scholarship has generally disputed the Friedmans’ findings [that it was an artificial rather than a natural language], suggesting that the manuscript’s ‘word entropy’ indicates a natural language written in cipher.”

WSJ

Last year, however, German Egyptologist Rainer Hannig from the Roemer -und Pelizaeus Museum in Hildesheim, believes “he has cracked the code to translating the work, and found the manuscript’s language to be based on Hebrew.” –The Art Newspaper, June 18, 2020.

Scholars, cryptographers, physicists, and computer scientists can’t figure it out, or they think they do until they don’t….

Seems that we have a problem of communication with folks from 500 years ago…

More to come…

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A Man for All Markets by E. Thorp Book Review https://wallstreetdealmaker.com/2019/09/a-man-for-all-markets-by-e-thorp-book-review/ https://wallstreetdealmaker.com/2019/09/a-man-for-all-markets-by-e-thorp-book-review/#respond Fri, 06 Sep 2019 18:09:16 +0000 https://wallstreetdealmaker.com/?p=1806 I will admit, I haven’t written any book reviews in the last few months. That is why I’ll give you two book reviews one after another. Today it will be A Man For All Markets (2017) by Edward O. Thorp. If you’re in finance and you haven’t read this book, … Continue ReadingA Man for All Markets by E. Thorp Book Review

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I will admit, I haven’t written any book reviews in the last few months. That is why I’ll give you two book reviews one after another. Today it will be A Man For All Markets (2017) by Edward O. Thorp. If you’re in finance and you haven’t read this book, well, you’re lacking.

About book reviews: a lot of people charge for book reviews which they sell in packages. We’ve never done that. Some people with popular blogs don’t even write book reviews, which they consider “below” them. Others write bite-sized “buy this book” reviews which aren’t really reviews, only recommendations. Needless to say, on this blog I don’t do that. I believe in reading books as a main source of knowledge and whenever possible I buy paper books. (just to keep me away from the damn digital space). Reading a book is a process that I enjoy, it is one of my “keystone” habits. If you don’t have the habit, and you open your phone and tablet every time…you know what you’re doing. Good luck wasting your life away. (and get off my blog).

Dr. Thorp need little introduction. He wrote The Beat the Dealer, Beat the Market, Elementary Probability. He had bridge with Buffett. He ran the very successful hedge fund Princeton Newport Partners and Ridgeline Partners (18% YOY return in 25 years). Although I’m in finance, I dab in games of luck, so I was very interested in the blackjack and roulette technique Thorp develop in the ’60s.

Thorp thinks the ordinary player can still beat the game of blackjack. “For instance, never play at a table where the payoff for getting the two-card 21 has been changed from the original 3:2 to lesser amounts like 6:5 or 1:1“. Or course, casinos changed the rules when people like Thorp showed up, and many times he was declared non-grata. How do you play it? Do you stand when the dealer shows an upcard of 4, 5 or 6 ?

On roulette, as we know, the winning bet on a single number pays 35:1 meaning you get back your stake plus a profit 35 X you bet.”

The author tells us the childhood game of Rock, Paper and Scissors is a simple example of a nontransitive rule. How ? Rock beats (breaks) Scissors, Scissors beats (cuts) Paper and Paper beats (covers) Rocks. Wow !

Thorp muses on the distinction between “satisficers” and “minimizers” which he likens to something called the secretary or marriage problem:

“Assume that you will interview a series of people, from which you will choose one. Further, you must consider them one at a time, and having once rejected someone, you cannot reconsider. The optimal strategy is to wait until you have seen about 37% of the prospects, then choose the next one you see who is better than anybody among the first 37% that you passed over. If no one is better you are stuck with the last person on the list.”

A Man for All Markets

Thorp pioneered the STAR or “STatistical ARbitrage” and his portfolio was market-neutral by “constraining the relation between the long and short so that the tendency of the long side to follow the market is offset by an equal but opposite effect on the short side.”

Thorp brings compound interest into the discussion and “The Rule of 72”:

“If money grows at a percentage R in each period the, with all gains reinvested, it will double in 72/R periods.”

He makes the interesting observation that “we typically put less value on each successive $1,000 increase into our net worth, and that we feel that way about all scarce useful items, so called economic goods.”

The author discusses the Financial Crisis of 2008 in his “Financial Crises: Lessons Not Learned” Chapter. Does he ever touch on the subject of executive over-compensation, that we talk about so often on this blog ? Yes ! He quotes Mosher Adler’s article “Overthrowing the Overpaid”:

“Over 200 years ago, economists David Ricardo and Adam Smith concluded that what a person earns is determined not by what that person has produced but by that person’s bargaining power.”

Gee, no wonder you read this blog instead of the dozens of bullshitters out there.

You’re being fucked ever time and time again…I don’t mean it properly.

It’s your life in their casino.

Care to change it ?

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