finance

“I do think any young person thinking about a career in finance, if you get a shot to work overseas, do Just A, you get a lot more responsibility, and B, just learning how things are done elsewhere, it can't help but make you a better investor.”

“Finance had what I felt was like so much of a zero sum game mentality where it's like, if I win, someone has to lose. If I get promoted, this person gets left behind, you know, bonus pool, like points and things like that. And it just brought out a lot of unat…”

“The tools were just that. But the human element in finance and that the assumptions that you need to make swamp any of the other benefits that the data provided at the time.”

“And I had a mentor a long time ago who told me that he believed that almost everything that was discoverable in finance would be arbitraged away, but human judgment would not, and that human judgment, good judgment, was rare, and that balancing it with emotion…”

“I think the more important explanation though, is that that happens because what matters in finance is not what you know. It's not your IQ or your intelligence. It's just how you behave. That's the most important. It's not the only thing that's important, but …”

“In finance, you can be someone who has no education, no background, no experience, And vastly outperform someone who has the best education, the best background, the best experience, which doesn't happen in any other field.”

“Because if economics and finance was predictable, if it was just a Newtonian exercise, then folks who have PhDs in finance would be billionaires, and we all know that's not the case.”

“So if you look at control ownership transactions over the last decade, I think something like 60, 65% of the new control owners in North American pro sports have either come from the technology sector or finance.”

“What happened is, if we're honest with ourselves, the real change is happening in the tech world. There's not much innovation happening in finance. It's really operational alpha and scale.”

“Finance globally is Is 11 to 12% of GDP. And finance as an industry doesn't produce anything that's inherently valuable. It's just an industry that is a lubricant for other sectors like healthcare, education, et cetera, to actually, like, make the world a bett…”

“And my hope is that, and my sense is that people won't even use the term DeFi in five to 10 years. It will just be called finance because we don't call finance today centralized finance.”

“Science progresses secularly, but finance progresses cyclically, and that most ideas have been around before, and we repeat the same mistakes, and there's a lot to learn from studying past periods.”

“The benefit is you get access to people and things that you may not have gotten given what you've done. But the flip side of that is the other things that are probably negative, and I hate to say this, far outweigh what you actually get positive.”

“So the idea that investing and money Is more akin to like your taste in music where nobody's right or wrong. Everyone's just has a different view of what's good and what's bad. It's hard to grasp that in a field like finance where it's taught as a math-based f…”

“The reason that finance can be such a tense topic and subject of so much debate in a way that meteorology is not, in finance, there's an infinite number of right answers for different people.”