The Man Who Solved the Market

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jennypenny
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The Man Who Solved the Market

Post by jennypenny » Tue Nov 05, 2019 6:44 pm


Mister Imperceptible
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Re: The Man Who Solved the Market

Post by Mister Imperceptible » Tue Nov 05, 2019 10:51 pm

https://m.youtube.com/watch?v=VjuL1TH_cWY

Is there insight into quantitative investing or is it primarily a yarn? I have no doubt it is interesting regardless but I’m juggling multiple reads.

Jason
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Re: The Man Who Solved the Market

Post by Jason » Thu Nov 14, 2019 7:51 am

New York Times review. Seems like a must.

https://www.nytimes.com/2019/11/13/book ... e=Homepage

Salathor
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Re: The Man Who Solved the Market

Post by Salathor » Thu Nov 14, 2019 11:14 am

I really feel like the NYT review needed to pull Trump into it a few more times than they did, since this is a book about politics and the election.

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jennypenny
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Re: The Man Who Solved the Market

Post by jennypenny » Mon Nov 18, 2019 4:35 pm

@MI — It’s a yarn.

@Salathor — The book isn’t about politics. It doesn’t even come up until the last couple of chapters.

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jennypenny
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Re: The Man Who Solved the Market

Post by jennypenny » Tue Nov 19, 2019 10:48 am

I looked at the book again. Politics is the main focus of the next to last chapter. It revolves around Mercer and his role in Trump’s election and, to the author's credit, avoids being a straight-up anti-Trump screed. To my mind, the bigger issue that comes out of that chapter is whether individual pursuits and positions should have any bearing on an individual’s employment. You might think yes in the case of Renaissance (#becauseTrump) but the pendulum always swings the other way eventually and it pains me to think of conservative firms squeezing out liberal coworkers or executives because of politics. Besides, it can be too disruptive … Mercer had to step down from his executive role at Renaissance but Magerman was also forced out.

The most interesting ideas I got from the book (in addition to the history and explanation of quant trading) were (1) being an early adopter can be very rewarding if you pick your field correctly, which is true in almost any pursuit, and (2) understanding machine learning will be a huge field in the future. People like Richard Thaler will be studying behavioral science as it pertains machines, not humans. It will be the next black box scientists try to decipher after the human brain.

Campitor
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Re: The Man Who Solved the Market

Post by Campitor » Tue Nov 19, 2019 12:23 pm

I’m currently reading the book. It’s a very interesting book so far. Odd to read about PHDs starting fistfights with colleagues while designing AI and working on award winning mathematical theories and algorithms.

Salathor
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Re: The Man Who Solved the Market

Post by Salathor » Tue Nov 19, 2019 3:53 pm

jennypenny wrote:
Mon Nov 18, 2019 4:35 pm
@MI — It’s a yarn.

@Salathor — The book isn’t about politics. It doesn’t even come up until the last couple of chapters.
I meant sarcastically that the review overemphasized politics--I'm not sure every review needs to have a disclaimer these days that one of its subjects is a conservative.

"For the politically inclined, one of the most interesting was the firm’s former co-chief executive, Robert Mercer, the conservative billionaire who funded Breitbart News and Cambridge Analytica."

"You could also argue, as another former executive guiltily put it, that working for Renaissance 'helped provide Mercer with the resources to put Trump in office.'"

Are these worth mentioning in a book review?

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jennypenny
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Re: The Man Who Solved the Market

Post by jennypenny » Tue Nov 19, 2019 4:05 pm

Oops, didn't realize you were being sarcastic.

Then yes, I totally agree with you that the review overemphasized politics, especially since I thought the author did a good job of walking a straight line through all the main characters, politically and otherwise. (Mercer isn't the only one with some pronounced quirks at Renaissance. As Campitor mentioned, there is some strange/unexpected behavior sprinkled throughout the book.)

Salathor
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Re: The Man Who Solved the Market

Post by Salathor » Tue Nov 19, 2019 5:39 pm

The book is definitely going on my 'check out from the library' pile, along with the new Houllebeque (sp?) novel. Not a huge fan of his writing, but I found Submission to be very thought provoking. Anyone who read that and said he was an Islamophobe missed the point.

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