[This article was updated on Januaaryn 18, 2021 to include additional data I learned of in the comment section]
Commenter “Carlos” left a number of comments on this blog about his brilliant cousin. These comments are posted below in red.
On September 10, 2020, commenter “Carlos” wrote:
Hi Pumpkin Person! I’ve been reading you since too long and now i have an intersting case for you
My cousin is pretty brilliant and I’ve been observing him for quite a long time. I would like your estimate on his IQ. Here it goes his history: at 5 years old he memorized around 200 country flags in a book,and was able to draw any flag at any time. At 16 years old he memorized 200 pi numbers in a couple of hours. In high school he was the best math student despite lack of effort (in fact he doesnt like studying).He started musi. College at 18 and now at 20 is able to play around 30 instruments with greatness. He does extremely fast mental calculus. Since I’m really intersted in IQ testing, I tried something with him. At 16 years old I sat him the Raven standard progressive matrices, which he achieved 60/60. Later, at 18, he passed mensa test,but I dont know what test was used neither the score, and later marked 36/36 on Raven advanced matrices. He even said it was too easy. Last week I showed him your PATMA test, and in less than 5 minutes he got 10/10. I tried the digit span with him and he was capable of doing 9 forward and 8 backwards, but had one fail: when he had to repeat 8 digits backwards, he got one right and one wrong, saying he could not hear properly the one he got wrong (I didnt try any more than this).ohh I also tried with him the arithmetic part of WAIS IV, in which he was able to get everything right, answering every question in under than 10 seconds)…. The only other information I have is about a high range IQ test called Sigma Test. He did from the 1 to 20 easily, with no difficulty, but was quite lazy to do anything more.
I’d really enjoy your study in this case.
Greeting from London!
My first question is how did Carlos sit his cousin for the Raven Standard Progressive Matrices & the WAIS-IV arithmetic test? Does he have access to these tests?
On Sept 11, 2020, he wrote:
Yeah, I’m not making up. He’s really my cousin! I have always been curious about him and his real IQ. His father is also gifted, but waaaay less than him. Another thing I remembered is that he is able to speak any words backwards very fast. People are always asking him to do it, because it’s really fun to see. He was born here in London but lived some time in Paris, as his father is an engineer and was moved
On Jan 4, 2021, Carlos wrote:
Some time ago I posted a comment talking about my cousin Brian, who has exceptional intelligence. Yesterday I found out he was evaluated with WAIS IV this year, january, at 20 years old. The raw scores:
Vocabulary: 45/57
Similarities: 34/36
Information: 23/26
Matrices: 26/26
Visual Puzzles: 23/26 (Carlos later said he made an error & actual score was 25/26)
Block Design: 66/66
Digit Span: 45/48
Arithmetic: 22/22
Coding: 98/135
Symbol Search: 49/60
He is a musician and is studying to become an orchestra conductor. He plays very well around 25 musical instruments and has great memory skills.
As you can see he excelled Arithmetic (all the questions answered in less than 10 seconds, according to his psychologist), matrices subtests and Block Design, so I’m going to give you some other informations so you can try a better estimate.
Her psychologist administered some WISC V subtests, as they are pretty hard (even more than the WAIS IV) he excelled the Matrix Reasoning part and had a 51 on Digit Span. Also had a 33/34 on arithmetic. Arithmetic on WISC V is way harder than arithmetic on WAIS IV, but the norms are a bit awkward. Maybe you can try to extrapolate. There is a extended WISC V norms on internet, just search for it and its easy to find.
Some months ago I showed him your PATMA. He had 10/10 with no efforts. He took the Raven Advanced matrices with 18 years old and scored 36/36 on the 40 minutes version.
Also he took the Cattell Culture Fair Form B with 18 years old and scored a very high 42 out of 50 questions (her mother couldn’t recall exactly). Also scored 43/44 on D70 and 44/44 on D48 tests.
I think it would be great if you show us your estimative about him, as he had some ceiling problems with WAIS IV.
Carlos’s cousin sounds ridiculously intelligent and the fact that he’s an aspiring conductor reminds me that Arthur Jensen viewed conductors as men of high intelligence. “The musicians in the symphony orchestras are kind of average” he told Forbes magazine’s Daniel Seligman. “They’re at about the level of an average BA graduate. But the conductors–now they’re something else again.”
But I’m surprised he took the WAIS-IV in January 2021. Aren’t we in a pandemic? Did he and the psychologist wear a mask or was the test administered by zoom? The latter seems unlikely since Block Design was administered.
Nonetheless, using the raw scores Carlos provided, I converted his cousin’s WAIS-IV scores to scaled score & IQ equivalents (isn’t this the job of the psychologist who tested him?). I’m assuming he took the American version. Note that the subtests are expressed as scaled scores where the U.S. mean and standard deviation at all age groups are set at 10 and 3 respectively. By contrast, the index scores and full-scale IQ use a scale where the U.S. mean and SD are set at 100 and 15 respectively.
| scores before Flynn effect adjustments | adjusted for the Flynn effect | |
| Vocabulary (word knowledge) | 14 | 12.73 |
| Similarities (verbal abstraction & thought organization) | 17 | 16.11 |
| Information (long-term memory & environmental awareness) | 17 | 16.36 |
| Matrices (visual pattern recognition) | 18 (24 using WISC-V scores) | 17.24 (23.84 using WISC-V scores) |
| Visual Puzzles (spatial reasoning) | 17 | 16.62 |
| Block Design (visual organization & spatial analysis) | 19 | 18.62 |
| Digit Span (rote memory & attention) | 19 (22 using WISC-V scores) | 18.62 (21.9 using WISC-V scores) |
| Arithmetic (mental math) | 19 (17 using WISC-V scores) | 19 (17 using WISC-V scores) |
| Coding (rapid eye-hand coordination) | 15 | 14.75 |
| Symbol Search (visual scanning) | 16 | 15.75 |
| Verbal comprehension index | 136 | 130 |
| Perceptual Reasoning index | 146 (150+ if we substitute WISC-V scores for Matrices) | 142 (150+ if we substitute WISC-V scores for Matrices) |
| Working Memory index | 150+ (150+ if we substitute WISC-V scores for Digit Span & Arithmetic) | 150+ (150+ if we substitute WISC-V scores for Digit Span & Arithmetic) |
| Processing speed index | 129 | 129 |
| Full-scale IQ | 151 (157 if we substitute WISC-V scores for Matrices, Digit Span & Arithmetic) | 148 (154 if we substitute WISC-V scores for Digit Span & Arithmetic) |
As the above data shows, Carlo’s cousin has an overall WAIS-IV IQ of roughly 150 (before and after corrections for the Flynn effect). This puts him at the extremely brilliant range and sounds consistent with his spectacular intellectual achievements.
Although he hit the WAIS-IV raw score ceiling on three subtests (Arithmetic, Matrices & Block Design) and the WAIS-IV scaled score ceiling (19) on three subtests ( Arithmetic, Block Design & Digit Span) it was not immediately obvious that his WAIS-IV full-scale IQ was supressed by ceiling bumping. My general rule for ceiling bumping is when at least half the subtests hit the scaled score ceiling or there’s a non-trivial median scaled score > mean scaled score gap. Carlos’s cousin meets neither of these criteria for full-scale IQ but he does meet the first one for Working Memory index.
Thus it’s interesting that the psychologist administered the Matrices, Digit Span and Arithmetic subtests of the children’s scale (WISC-V) because these now have super high ceiling norms (above scaled score 19) for identifying profoundly gifted kids. Unfortunately at age 20, Carlos’s cousin is too old for these norms but if we use the norms for U.S. 16.95-year-olds, his WISC-V Digit Span gets a scaled score of 23 (roughly one in 136,000 level)! However given that he was presumably 20-years-old, I would reduce this to 22 (roughly one in 31,000 level). Given that these extended norms were published in 2019 (and likely gathered circa 2017?) one might reduce this further to 21.9 for the Digit Span Flynn effect.
Meanwhile on the WISC-IV Matrices subtest, he obtained a scaled scored of 24 (about one in 652,000 level!) and because performance on this task (at least at the high end) does not increase from age 16.95 to age 20, there was no need to adjust for age, though after Flynn effect correction it became 23.84.
After acing the WAIS-IV Arithmetic subtest and the PATMA, Carlos’s cousin regressed to the mean on the WISC-V Arithmetic subtest. The extended norms don’t show equivalents below a scaled score of 18 but if they did, Carlos’s cousin would have likely scored 17 for 16.95-year-olds (one in 100 level) and this should be reduced to 16 assuming he was 20-years-old. Arithmetic shows no Flynn effect so no need to adjust for slightly old norms.
Too bad the psychologists apparently did not give the WISC-V Block Design to see if he could have exceeded a subscale score of 19 on that subtest too, although given the high practice effect of this subtest, it would have been unwise to administer it so soon after the WAIS-IV version.
Although Carlos’s cousin was above average on all subtests, he scored relatively low on Vocabulary. Given that Carlos appears to be Hispanic, I wonder if his cousin is bilingual and if that may have supressed his English vocabulary.
Pumpkin Person 
gundlach might be the only billionaire former actuary.
actuaries are super nerds.
aspie-central.
but the insurance industry can’t exist without them.
To Friedman’s credit, he was very ethnically non-motivated compared to his co-ethnic contemporaries. He wasn’t a completely honest actor, but he was dishonest for different reasons.
That new article on Unz about him was pretty dumb.
Freedmans economics are generally abysmal. He greatest contribution is the negative income tax credit. His worst contribution was neoliberalism i.e the revival of economic theory from 150 years prior.
dude.
friedman himself said he became an economist because actuarial exams were too hard for him.
why is a nobel laureate in econ saying this believable?
because…
in america the SoA and CAS are de facto unions for actuaries.
they have an interest in:
1. restricting the number of credentialed (test passing) actuaries.
2. promoting the credential as ir-replace-able/un-scab-able.
CONSEQUENTLY…
actuarial exams are ARTIFICIALLY DIFFICULT.
that is:
1. you do NOT need a very high IQ to do what actuaries do.
2. you DO need a very high IQ to pass the tests that make you a credentialed actuary.
by very high i just mean 130.
Eat your own feces Mug!
so hank aaron died and HBDers likely think of athletic ability and academic ability/IQ as distinct.
but china people dominate ping pong and badminton.
reality is the ability to stare down a pitcher and hit a fast ball is related to academic ability.
whereas the ability to lift heavy weights and run long distances at a fast pace are less related.
book learning vs body learning are both learning.
Surprised nobody has mentioned bitcoin here. It reminds me of the tulip bubble.
If I had autism would i even know what it is since I have no idea what a normal mind is like? Wow. Very bleak.
list of billionaires and other famous investors who have shorted tsla and still do: einhorn, chanos, steve eisman.
something happened last year where dumb people with little money became able to affect prices of some shares and drive them into bubbles. was it robinhood? is it that commissions went to $0? https://en.wikipedia.org/wiki/Robinhood_(company)
or are these people being led up the himmelstrasse by big money manipulators?
tsla will be gassed and then turned into ash and melo will still be a midget with a tiny penis and slant eyes. glorious.
“Tesla will be gassed and then turned into ash “
And I’ll make money all the way down because I’m not an autistic retard like you. You literally could have been making money this whole time on Tesla by just simply momentum trading but nope, you’re too dumb!
You know what’s happening with GME right? It’s going to keep happening.
Shorters and old money like you are done.
Boomers are done.
You can call RHers and WBers idiots all you like but we control the markets now.
I don’t even know how to do technical analysis lmao! And yet I’ve made more money in 6 months than you will for the rest of your life!
SAD!
melo thinks stocks have momentum.
AND he can identify it.
THEREFORE he has ZERO excuse not to be a billionaire.
idiot!
I can’t ever be 100% certain of any gamble I make. However, even if I’m only right 30% of the time I can still be making gains if my losses are mitigated.
Simple shit. Too bad you’ll never understand it.
for dumb people who think speculating and investing are the same…
speculation: buying with the hope selling later at a higher price. (usually shortly later.)
investing: buying with the hope of dividends, buy backs which are a high % of your purchase price. (continue to hold as long as return on initial investment doesn’t get a bullet in the ass and you don’t know of any better opportunities.)
speculation: investing :: promiscuous lesbian: stay at home mom
If you can’t make money investing you’re a fucking moron.
My paper trading account started with a million and I made 50% in less than a month.
I didn’t average down or do any DD. I literally bought apple and Tesla shares and just forgot about it. You can do that when you’re already rich. You don’t have to worry about rent or where you’re getting your next meal.
Speculation is the real galaxy brain move. I’d rather be a lesbian with freedom than a 1950s house wife that has to deal with white husbands small dick.
then why aren’t you a billionaire?
idiot!
loser!
everyone makes money in a bull market.
“everyone makes money in a bull market.”
Then how come you didn’t?
This is why I love commenting on this blog. Because of all the stupidity that goes into making it.
Lol. “buy and hold” is a dumb strategy. Read the Market Wizards books. Traders outperform investors. Time is money in the market. Most “investors” are bagholders.
no they don’t you fucking moron. the market wizards books are retarded.
lol. this personality is so fucking retarded it thinks investing as defined above is the same as buy and hold.
do you know how long buffett has held KO?
more than 30 years.
you have AIDS.
Typical Mugabe, always resorting to insults over substance. Your GOD Buffett has substantially underperformed the S&P over the last 10 years. Care to defend that?
that’s easy. he himself has explained part of the reason. viz., too much money. the other parts are:
1. buffett underperforms during bubbles. he’s a value investor not a dumb person like melo.
2. his portfolio can’t be compared to the s&p, because it doesn’t have the same industry composition. for example, he has until recently avoided high-tech shares.
3. berkshire has a beta < 1. so on a modern portfolio theory risk adjusted basis he has out performed.
4. i predict your market wizards have all done much worse than buffett over the last 10 years. they were just lucky.
hedge funds are for the most part scams.
https://www.investopedia.com/articles/investing/030916/buffetts-bet-hedge-funds-year-eight-brka-brkb.asp
https://money.cnn.com/2006/03/05/news/newsmakers/buffett_fortune/index.htm
and buffett has successful imitators like klarman and greenblatt. but my guess is they work in a team whereas buffett is close to a one man band.
a great quote from greenblatt is, “this will work, but only if you believe it will work.”
what could he mean by that?
what he means is that following the margin of safety strategery one should expect to underperform the market for periods as long as 5 years occasionally.
buffett said something like, “what kind of investing is there other than value investing? reading tea leaves investing?”
but “value investing” has come to be contrasted with “growth investing” because a company’s growth is much less predictable than the value of a stable olf company. over the long term all the studies show that value beats growth, momentum only exists over minutes, not days, let along months.
technical analysis only works for algorithmic high frequency trading. otherwise it’s ‘tarded.
melo should read Fooled by Randomness.
of course now i realize that when dwh spoke of “the stock market” she meant more than just the stock market. she meant “what hedge funds buy and sell in general”.
in that case she’s right.
for example, it makes zero sense to buy a silo of corn and wait.
or buy GBPs and wait.
speculation and trading are appropriate to many asset classes. just not stocks.
Lol there you go, making excuses for Buffett’s decade long underperformance. I’m sure he doesn’t care as he has billions. Now, imagine, if you’re young and don’t have a lot of money, why would you copy Buffett’s strategy? You wanna make as much money as you can in as little time as you can. I’m not gonna sit around for a decade. Time is money. There’s no asterisk besides my returns just because I made money during a so-called bubble. That money is mine.
but if you followed the same strategery in the future you’d be WIPED OUT.
https://en.wikipedia.org/wiki/Gambler's_ruin
suppose you were given $50m to invest but only in commercial bank stocks.
1. you’d learn everything about every bank with a stock.
2. you’d buy several in order to diversify.
3. when some of your favorite bank stocks became dear you’d sell some of them (but not all of them) and buy shares in those of your favorite banks which were cheap.
you might do this on a monthly basis.
the point is to maximize future cash flows from your bank stocks adjusted for risk.
now ‘tards will ax, “why adjust for risk? in;t that just abstract? why not just put all the money in the best…if you can determine it?”
hahahaha!
the answer is “adjustment for risk” is code for “adjustment for leverage/gearing”.
a boring but levered stock is a shit ton better than an unlevered darling of growth investors. AND you can’t lever the growth stocks as much…you could be wiped out in one day.
Starting to think this dealwithit isn’t the one we remember from 2 years ago.
Starting to think this dealwithit isn’t the one we remember from 2 years ago.
That’s your autism talking. It’s the same person.
i guess this all comes down to the gambling question.
dwh’s supposed gains in such a short time have come entirely from other people trying to do what she did…and losing.
a zero sum game.
Don Corleone: [to Sollozzo] I must say no to you, and I’ll give you my reasons. It’s true. I have a lot of friends in politics, but they wouldn’t be friendly very long if they knew my business was drugs instead of gambling, which they rule that as a – a harmless vice. But drugs is a dirty business…It makes, it doesn’t make any difference to me what a man does for a living, understand. But your business, is uh, a little dangerous.
Sonny: Aw, you’re telling me that the Tattaglias guarantee our investment?
Don Corleone: I have a sentimental weakness for my children, and I spoil them, as you can see. They talk when they should listen.
[Sollozzo leaves after the Don wishes him luck]
Don Corleone: [to Sonny] Whatsa matter with you? I think your brain’s goin’ soft …Never tell anybody outside the family what you’re thinking again.
Youre an idiot Pumpkin. Nothing you say matters. I hope someone bludgeons you to death.
This deal person seems to know a bit about finance but the old one knew nothing.
It’s more important you know the correct meaning of words and how apply in real contexts than know their “correct” or formal way of writing.
Such a sad day to the world
https://www.theguardian.com/tv-and-radio/2021/jan/23/larry-king-dies-87-hospital-coronavirus
I wish someone would study the politics of psychopaths. I’m very curious about what the average hardcore gentile psychopath actually believes.
This guy might be the biggest psycho i’ve ever seen.
Barry Jay Minkow (born March 22, 1966)[1] is a former American businessman, pastor, and convicted felon. While still in high school, he founded ZZZZ Best (pronounced “Zee Best”), which appeared to be an immensely successful carpet-cleaning and restoration company. However, it was actually a front to attract investment for a massive Ponzi scheme. It collapsed in 1987, costing investors and lenders $100 million: one of the largest investment frauds ever perpetrated by a single person, as well as one of the largest accounting frauds in history. The scheme is often used as a case study of accounting fraud.
After being released from jail, Minkow became a pastor and fraud investigator in San Diego, and spoke at schools about ethics. This all came to an end in 2011, when he admitted to helping deliberately drive down the stock price of homebuilder Lennar and was ordered back to prison for five years. Three years later he admitted to defrauding his own church and was sentenced to an additional five years in prison. As a result of his crimes, he faces having to pay a total of $612 million in restitution—an amount that he will likely spend the rest of his life repaying.
White people are far from psychopaths. Average white person doesnt even come close to the psychopathy if other races and its not because theyre not trying either….
in terms of height…
credentialed actuaries are “tall”. but not freaks.
in the US maybe 6’2.5″.
that’s all.
Dude who cares? Even if you were 6’6 Id still knock you the fuck out!
the lady doth protest too much me thinks.
Lets see how long PP takes to post my comments….Ill put my money on a span of 36 hours….if were lucky.
example of how retarded the melo personality (also a woman) is:
on march 22 of last year the s&p 500 reached a local minimum. since then its price return has been 71-72%.
the s&p goes back to 1927.
a higher return over the same period has only happened once, 1933-34, in the middle of the great depression.
melo thinks he’s a genius because he won the lottery. he’s a fucking retard.
and he’s so utterly retarded he doesn’t get that he’s only won the lottery because he and his fellow retards have made it a self-fulfilling prophecy.
No Mugabe, I’m a genius because I won the lottery 6 times with minimal knowledge.
The patterns are there and they’re easy to identify. But again, that’s only if you aren’t autistic. See you underperform the market because you literally can’t adapt. You still think this is the 20th century and that’s why you fail. You don’t take risks because small penis and that also happens to be why you’re going to die alone.
And to prove how dumb you are I’m going to keep screenshotting every idiotic comment you make so that once when you inevitably fail in your predictions again, I can rub it in your face.
I already told you. Speculators won. WSB won.
GME to the moon.
you won the lottery 5 times prior to march 22, 2020?
are you illiterate?
wtf do you mean?
i’ve held and sold or reduced multiple positions over the last 10 months that have more than doubled. a lot more than 6.
“wtf do you mean?”
Translation for the mentally impaired:
If I’m just consistently “winning the lottery” every time I play, at some point you can’t attribute it to pure luck.
“i’ve held”
The only thing you’ve held is these nuts in your mouth.
over the last 10 months a monkey throwing darts could beat you melo.
The patterns are there and they’re easy to identify. But again, that’s only if you aren’t autistic.
so you’re saying you’re a billionaire and not a rap loving carpenter?
No I’m saying I was a rap loving carpenter who now is a rap loving “investor”.
The more you talk the more I realize why you underperformed the market this year. Did you make any money on GME? Or did you take another L because “bUbBleS”.
She went to 160
all i know about GME is one of the grils on the bang bus worked at gamestop.
and gamestop is a retailer of gaming shit with 14k employees.
LAME!
i will soon buy long term far out of the money put spreads on GME.
but the market is closed.
thanks.
Why not calls and puts both long and short?
What kind of moron only plays one side of the market? GME just went through a hell of a short squeeze/gamma squeeze whatever you want to call it for like the fifth time! Why would you only be bearish? Why limit yourself?
That kind mentality only exists in the mind of someone born with a small brain AND a small dick.
https://www.emerald.com/insight/content/doi/10.1108/MF-01-2017-0003/full/html
The authors find evidence that high MT predicts lower performance. The comparison between the highest and lowest quintiles sorted based on MT reveals a difference of −2.41 percent in the annual risk-adjusted return. Furthermore, high MT predicts lower net flows. The authors also find that MT relates positively to other activeness measures while volatility, flows, size, number of stocks, and the expense ratio are significant determinants of MT. Overall, the results suggest that frequent churning of a portfolio is value destroying for investors and signals a manager’s lack of skill.
I’m even more extreme than mugabe and melo/dildos. I don’t buy individual securities just etfs.
but even vg level fees can knock off a lot over 20 years.
mugabe is wrong.
but maybe only for the cheapest ETFs.
VOO has underperformed its index, the s&p 500 total return index by only about 1% (= 0%) in 10 years.
the US market has been a freak over the last 10 years.
so following the mantra of “diversification is the only free lunch in investing” and thus investing in foreign shares has made every wiseman who did it look ‘tarded.
GUNDLACH has said he expects the US will underperform for the next 10 years.
Economy is the astrology of mathematic sciences….
Actually it more like the Christianity of stem subjects.
santo right.
pill wrong.
Mug is a retarded monkey. Repeat after me. Mug is a retarded monkey. Repeat after me. Mug is a retarded monkey.
the bizarre thing is there is a right answer and it’s buffett’s.
if there were no speculators in shares, just market makers, and there were a lot fewer people engaged in valuation and these were a lot less absurdly compensated…
then the stock market would function better.
then the whole society would function better.
maybe stock markets can only be done correctly by white protestants.
they’re firewater to everyone else.
including injuns.
and jews are the distillers.
So I’m reading more of schwarzmanns book and he says Obama contacted him to tell the republicans to compromise in the budget. I thought that was a very smart thing for Obama to do I.e. call mitch McConnell boss directly. I’m just beginning the section where he talks about trump now.
Wow it seems Steve is the main us negotiator of all trumps trade deals the way he describes it.
https://www.forbes.com/real-time-billionaires/#243aa2e43d78
If you look at the forbes list, the richest finance guy is Warren by far. The next richest is Jim Simons who comes in number 70th in the world. I was quite surprised by this. I was used to thinking finance people were the richest and its not the case.
Of course like I have always said if you audited offshore and other secret holdings of wealth, the list would change a lot. I’d bet putin would be in the top 10 for example.
the list is never going to be perfect pill. They’re not the IRS, they’re just journalists listing the greatest fortunes they can prove based on publicly available information, insider sources & educated guessing. But I guarantee their estimates are a hell of a lot better than your autistic theories of bob Rubin secretly printing himself trillions of dollars.
I’d say there are going to be a lot more chinese people on the list by the time I’m retired. A lot more unless theres a world war or a stalin type figure comes into power in china.
Speaking of Putin, apparently this is his house:
https://www.insider.com/vladimir-putins-secret-palace-black-sea-russia-video-2021-1
Forbes did list Putin as the #1 most powerful person in the world several times:
https://en.m.wikipedia.org/wiki/Forbes_list_of_The_World%27s_Most_Powerful_People
But there’s never been enough evidence to prove he’s a gazillionaire perhaps because he spreads the wealth out among his many cronies to avoid a revolution
And many super rich people would be self-made btw because old money can’t compete with the huge amount of wealth new technology has generated in the last 50 years
Old money compounds faster than entrepreurship generates wealth. Its a fact. Read piketty book. Most of the worlds real richest are probably inherited.
Technology has increases productivity by orders of magnitude so great fortunes made today will vastly eclipse those made decades ago especially considering that 50% of old fortunes are consumed by the estate tax & the remaining 50% gets divided by multiple heirs. The only way for old money to keep up with new wealth is to invest it all into the S&P 500 but since much of their wealth is in family owned businesses, it’s tough to liquidate & reinvest without tanking the stock or losing controlling interest in the company
But I do agree that Forbes likely undercounts the number of really huge old fortunes because old money tries to conceal itself & is harder to track than new businesses deseperate for publicity
You just don’t get it puppy. If you have lots of money you can hire good accountants/lawyers to evade estate tax. The very rich also get access to investments that normal people can’t get.
You’re so stupid, pill:
https://www.google.ca/amp/s/www.theglobeandmail.com/amp/globe-investor/globe-wealth/eroding-family-fortunes-how-the-cycle-can-be-broken/article33757468/
[redacted by pp, Jan 25, 2021]
old money is divided among chillens and their chillens and their chillens’ chillens.
and the fortune gets wrecked if there’s just one idiot in the family tree.
this is only avoidable via primoginature or passing on the family wealth to one child (like the family feudal title). this has been out of fashion for more than 100 years.
“chillens and their chillens and their chillens’ chillens.”
Black people don’t say “chillens” you faggot ass boomer.
This retard is using 80’s black people slang and thinks he’s being clever
What a loser.
…primogeniture…
https://en.wikipedia.org/wiki/Primogeniture
this is how the british aristcracy of the 19th c was so much richer and more powerful relative to industrialists of the industrial revolution that they are today.
…primogeniture…
https://en.wikipedia.org/wiki/Primogeniture
this is how the british aristocracy of the 19th c was so much richer and more powerful relative to industrialists of the industrial revolution than they are to today’s rich.
what wrecked them was taxes and that britain became dependent on foreign food imports.
the great farmlands of british lords became worthless when britain could import from america or australia.
surprised pill would think money men were the richest. had he never looked at the 400 before. the very richest are always going to be industrialist.
Google & Facebook have increased productivity of advertising in that they can reach billions of eyeballs. Much more than newspapers, radio or even TV ever reached in their day
like what happened to the fugger fortune?
war, famine, upheaval + idiot heirs + too many heirs.
https://en.wikipedia.org/wiki/Jakob_Fugger
I believe in Piketty thesis of hidden wealth despite anecdotal evidence of the contrary. I don’t know if it’s significant as he thinks or not.
For example, when the head of Monaco Pastor family was murdered it was discovered that they had more than 12 billion fortune, they were 6 billionnaires, and they were richer than the Grimaldi family. They own 1200 flats in the Riviera with a 4 billion value.
They have nothing to do with the Rodriguez-Pastor Latino America family. I have never seen them in any ranking.
https://www.bloomberg.com/news/articles/2014-10-16/monaco-murders-reveal-six-hidden-real-estate-billionaires
I have 3 other examples of unknown French I know are billionnaires who are not even listed in the top 500 fortunes in France that starts at 150 millions.
Sure fortunes like Big Tech must be in the open and it must be uncommon to have people like the Pastor. But for example, the founder of Bitcoin has at least 30 billion and given the liquidity of this market, this person could cash it all in 60 days without crashing the market.
For every multibillionaire Forbes missed, there are dozens they correctly identified. There will never be a 100% accurate rich list just like they’ll never be a perfect measure of intelligence, but a somewhat flawed yardstick is much better than none at all.
Pumpkin I love when you post my comments in a scurried fashion. It is the only thing I can identify with here.
Forbes Identify The Richy
And The Famoussssss
I did Cambridge Brain Science tests again and i noticed nothing new, some tests require more concentration than others. Memorization more than pattern recognition. Because i’m highly distractive to sorroundings i did bad as usual in memorization tests but i think if i was less distracted or more capable to concentrate to single task (even i’m not intrinsically inclined to do), i would be better even because these tests are not difficult. So i came up with a hypothesis that highly creative people usually tend to perform worse on traditional convergent cognitive tests (even with the highest score) because these tests are also concentration ability tests and people who are highly insightful tend to or are likely to be very distracted, if to be capable to generate many unusual ideas you need pay deep and constant attention to sorroundings and yourself and then be capable to deeply concentrate to develop your ideas and thoughts. I also believe these people tend to vary a lot in their scores on cognitive tests.
RR retwitted this and i posted too on my facebok cause i can.
https://sports.yahoo.com/amphtml/white-people-least-likely-to-wear-masks-consistently-study-finds-231848231.html?__twitter_impression=true
Binary thinking isnt the only option ever.
Is there any legitimate evidence that the russian government is behind the solarwinds hack? The expert opinion of some danish cia operative doesn’t count.
Hilary Clinton said Trump was on the phone to russia during the inauguration.
[redacted by pp, Jan 25, 2021] there are milions of slaves who defend them and “free market” ideology (free market for me, not for you… protectionismus)
https://bylinetimes.com/2020/10/09/climate-science-denial-network-behind-great-barrington-declaration/
melo, because ‘tarded, advocates taking risks.
buffett says, “risk comes from not knowing what you’re doing.”
the above is actually seldom understood. and the lolbertarian mantra that entrepreneurs are risk takers has infected even rap loving carpenters’ brains.
that is, probability outside qm, is just a quantification of human ignorance. it is NOT a quality inhering in the ding-an-sich, but in the human mind’s relationship to the ding-an-sich.
looking for three quotes from buffett and petrosian which parallel. one on risk, another on patience, and the third on safety. these two never knew or heard of one another obviously, but the parallels are striking.
I’m your wife’s boyfriend
i’ll short BYND too. thanks.
Lmao GME just hit 244 I hope you didn’t short it earlier
asian men are very UN-attractive to women. even asian women. only black women like peepee like them. mixed race asian men are the most repulsive men in the world.
Wrong again
Mixed Asian men AND women are the most attractive
https://journals.sagepub.com/doi/10.1068/p5191?url_ver=Z39.88-2003&rfr_id=ori%3Arid%3Acrossref.org&rfr_dat=cr_pub++0pubmed&
However, mixed-race (Caucasian/Japanese) composites were significantly more attractive than own-race composites, particularly for the opposite sex.
Lmao GME just hit 244 I hope you didn’t short it earlier.
of course i did. but i lost nothing, because by “short” i mean a bought a put spread. so if it crashes back to its value of…yesterday! by next friday i make 43% on my money.
“but the price went up so your put spread fell in value.” NO melo-tard. because everyone except you knows the stock is worthless.
shorting outright is insane when you’re dealing with retards and the stock is already heavily shorted. GME is one of the most shorted stocks. it’s called a short squeeze melo. if it doesn’t crash down by next friday i’ll just add another put spread. the stock is worthless, like blockbuster.
but don’t be surprised when there’s an SEC investigation of all these stocks like GME and TSLA. i almost guarantee it’s manipulation.
i also shorted PTON today. but that put spread expires in a year.
I know what a put spread is dumbass.
They’re for pussies you can’t really fail with spreads, but I can’t completely blame you as that is really your only option at this point if you’re trying to be bearish
We all already know GME is worthless(for now) but why not ride the wave? I’ve made ten grand. Just by some far OTM calls like you got a pair.
And I mean real fucking calls, spreads make no fucking sense when short squeezes are imminent.
I know what a put spread is dumbass.
They’re for pussies you can’t really fail with spreads, but I can’t completely blame you as that is really your only option at this point.
We all already know GME is worthless(for now) but why not just ride the wave? Buy some far OTM calls and not spreads because that shit don’t make sense during a short squeeze.
i mean seriously…SERIOUSLY…
i CAN’T watch japanese porn because the dudes are japanese…AND the women squeal like chirren.
so i have to get my jap on on american porn.
literally no one wants to see a tiny brown asian penis.
“i CAN’T watch japanese porn because the dudes are japanese…AND the women squeal like chirren”
Yeah it’s weird that the only “good” Asian porn is hentai and even that shit is strange as hell to say the least.
“literally no one wants to see a tiny brown asian penis”
Your mom did.
Two losers….
Japanese porn is the best. They pay more attention to little details and not only their below avg penis size and they look natural, regular dudes and in hetero porn, regular dudas. They kiss and spend more attention to nother body parts. Much better than artificial and penis size — penetration centerered western movies. Japanese porn look like what the old western porn movies would look like. What sex really look like in real world.
Losers are always size-obsessed.
the swank personality also said that lawyers who whined that they’d been had were just unwilling to take risks.
this idea of risk taking as a thing derives from a fundamental misunderstanding of probability, from a reification of probability.
for example, it is often said that men are more willing to take risks than women.
the reality is just that they assess risks differently and value different things.
a man will take the risk of dying in battle so that he won’t take the risk of being labeled a coward.
there’s a common phrase “afford to take a risk/a risk one can afford to take/etc.”
but the very fact that a given risk can be afforded by some and not others means this “given risk” is NOT given, is NOT one thing.
for one it IS a risk. for the other it is NOT a risk.
PiPi is against violence..
She’s so nice.
wrecking my drunk.
why have near zero long term rates NOT resulted in higher stock markets EVERYWHERE…
EXCEPT the US???
???
if you can answer this question (correctly) then you can get rich quick.
(i can put the question in other ways but wreck my drunk.)
No one cares you buffoon!
If you remove the tech stocks from the index, the index is just about breaking even with where it was pre pandemic.
whats ur bca melo?
Life is a step-by-step process that involves taking the right risks at the right time. This is called utilitarianism by philosophy people.
Philosophers have the highest IQs in my mind. I always wanted to be a philosopher.
I’d say physicists and mathematicians are smarter than philosophers on average. But people who cross physics, math and philosophy in whatever combo are probably smarter on average than pure phys or pure math or pure philosophy.
But RR
Most self declared philosophers, yiu mean??
I’ve read that the people with the highest VIQ are classics scholars and the people with the highest math IQ are….mathematicians. The people with the highest of both are theoretical physicists.
I am not sure about total math IQ, but physics majors score a bit higher on the math section of GRE than math majors. But that is GRE and it doesn’t test advanced ideas, its like a college SAT for grad schools.
To add to this, math isn’t entirely independent of verbal, it is a mix of verbal and non-verbal.
If I had never done drugs I would have been the most successful person. If I had done drugs once I wouldve been the most brilliant person. If I had done drugs every second of my life it would have driven me to be the most mentally progressive person of all time.
Tonight I have gifted you all with my presence. I hope the love I have shared with you stays in your hearts forever. Love you all. Peace.
Raoul
India is one of the linguistically diverse nation in the world but no have a highest IQ score.
I found out what processing speed is. Basically, it is a targeting system. Find identify take action. It turns out that I’m no good at that. It is the reason I take things one step at a time because I get confused and must have all things in order before I do anything. I am fast at recognizing patterns but I can’t actively target them. I can solve puzzles but periphery vision sucks.
The whole thing is a perceptual problem. I cannot perceive all I need to all at once. I can only go so fast because what I can see is limited.
How i have learning english
Autists “hbd”s talking about this AGAIN… since 2010 i have read the same thing…
https://www.unz.com/anepigone/fertility-by-race-sex-and-educational-attainment/
the melo personality is covered in kaposi sarcoma lesions.
STOP having AIDS!
the Vanguard Information Technology Index Fund ETF…
returned about 9.5% per year since its inception in 2004. the PIMCO (leveraged bond) fund PTY has returned about 8.6% per year over the same period.
for its first 6 years the vg fund returned nothing. and its inception came 4 years AFTER the 90s tech bubble popped.
so any day now i’m expecting to hear a yuge popping sound.
when rates are lower, profits in the far future are discounted less…BUT because they are in the far future they are also much less certain.
I bought AMC calls today. You gotta be a degenerate gambler in this market to make money.
the herpes has gone to your brain.
remember that scene from the movie star andrew anglin wishes he looked like.
I’m saying you’ve been
marking these cards.
I don’t need marked cards
to beat you, pal.
note the superficial similairty.
those numbers are wrong. it’s more like the vg fund 13.0% and PTY 12.5%.
the point is leveraged bonds have similar volatility to stocks and therefore should have similar return for mean variance optimizing investors.
theoretically germany’s and switzerland’s and japan’s negative 30 year risk free rates should make their stock markets worth infinity. but these rates are manipulated by the respective central banks. and such low rates indicate long term economic stagnation or decline.
If someone were to take the SAT Math at 23 years of age, how many points would you deduct? I’m asking because I know several people who did SAT’s for fun just to know what Americans go through, and for psychometric interest. I’ve always been curious to know if they would score the same if they were 17 years old.
people who studied STEM at college will do much better.
people who did NOT study STEM at college will do worse.
there was some guy on The Tonight Show a long time ago who sat the SAT again for a story he was writing. he was a journalist. he said he did better on the verbal, worse on the math.
but in general an 85 year old STEM professor is going to get a perfect score (800) on the math even though he’s 85 and might’ve only gotten 700 when he was 17.
Youre paranoid.
“We are MORALLY SUPERIOR aryans untermenschen… jews are only ones who are corrupting people”…
https://www.thelocal.de/20201209/why-are-coronavirus-rates-so-high-in-german-regions-with-far-right-leanings
i tried to add to my GME short and ib gave me the error message:
Transactions in this instrument are limited to closing-only trades.
Yup. Shorts are losing so bad that brokers like RH, Webull and Ameritrade were prohibiting the trades of those stock
this would be fair if the shorts also could only close.
but my broker’s quotes tell me i’ve lost nothing.
if the price dips below $74 before next friday i make 43%.
if not i lose 100%.
but i didn’t put more than pocket change on it.
i have like 85 stocks/positions.
i did add to my TSLA short.
my TRS paywall sub kicked in yesterday. do you ever post on BANG?
God is coming
Accept HIM
God would definitely be a woman.
It just makes sense.
MeLo Im starting to suspect youre a self hating Jew.
I’m white and Filipino.
And I don’t hate Jews.
If god was any particular gender at all she’d be a woman.
Oh. Okay.
Or
Hermaphrodite
That’s why I said any particular gender
If god is real he’s probably neither or both
1. look up most shorted stocks.
2. form gang of a million retards on reddit to buy one of them.
3. sell when stock doubles or more.
or more precisely you get lots of people to buy far out of the money call options on a heavily shorted stock and the market makers’ delta hedging buys the underlying shares for you.
delta/(call price) increases the farther out you go, so you get more delta hedging for your money the farther out of the money your call.
possibly the reddit story is cover for a guy with a [redacted by pp, Jan 28, 2021]
Thats called market manipulation. They could go to jail for that.
indeed. but it’s “the madness of crowds” rather than a mafia.
and the reverse is true too. if short sellers colluded to crash the stock.
“pump and dump” (and “dump and pump”) are illegal.
the point of the laws is just to make sure that things like this don’t happen…that stock prices are “tethered” to company value.
or that’s what the gal at the liquor store axed me.
“i’m not sure i know who’s playing.”
“it’s kc and brady’s team.”
“tampa bay.”
“brady has enough rings.”
“but it’s good to see an athlete over 40 [performing at the highest level].”
it was just cutty and mouth.
That’s not market manipulation.
However having 130% short interest definitely is and then having brokers refuse to trade stocks is just icing on the cake.
Y’all shorts are FUCKED lmao
no. eventually the redditors will get bored and the stock will crash back to $3. AMC is even more worthless. it’s bankrupt. only way it survives is with govt bailout.
that’s why i said:
and the reverse is true too. if short sellers colluded to crash the stock.
but mugabe is right again:
1. there will be an SEC “investigation”.
2. this will result in more regs.
the 99% has an interest in the stock market not being a casino.
You know there’s a bubble when deal with dildos is playing roulette.
Wrong again. I’m actually good at stocks. I made a killing on my AMC calls. I”m laughing all the way to the bank!
and all the way to jail.
Hahaha yeah right. Ok, arrest me for making money. Someone is jealous lol
no elite law school grad has ever said “i’m good at stocks” precious.
I completed crash 4 100% after much pain and effort. Never again.
Just started playing the star wars fallen order game. Really good so far. Like an interactive movie.
You used to go around calling everyone autist and making fun of autists. Now, all you do is play video games and type autistic comments. Wow, philosopher, you’ve really fallen 😦
God is good
Look at billionaires, you loser!!
Pray
is this bots or are there really people this dumb? and if the latter, why do they have any money at all?
a fool and his money are soon parted.
https://nypost.com/2021/01/28/gamestop-trading-craze-lifts-shares-of-mining-firm-with-same-ticker/
the above is fake news. it says the stock is a penny stock. those move 50% in a day all the time. so could just be a coincidence.
GME could sell shares and pay off its debt. TSLA could do the same.
so in this case the higher price can actually make the company more valuable.
but i believe this requires a lot of legal legwork.
so TSLA’s price could be justified if…
1. TSLA was selling shares. (it’s not.)
2. investors believed musk would make TSLA into a lot more than a car company. (they don’t.)