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jerryking : hard_questions   16

Hedge funds fight back against tech in the war for talent
August 3, 2018 | | Financial Times | by Lindsay Fortado in London.

Like other industries competing for the top computer science talent, hedge funds are projecting an image that appeals to a new generation. The development is forcing a traditionally secretive industry into an unusual position: having to promote itself, and become cool.

The office revamp is all part of that plan, as hedge funds vie with technology companies for recruits who have expertise in machine learning, artificial intelligence and big data analytics, many of whom are garnering salaries of $150,000 or more straight out of university.

“A lot have gone down the Google route to offer more perks,” said Mr Roussanov, who works for the recruitment firm Selby Jennings in New York. “They’re trying to rebrand themselves as tech firms.”...While quantitative investing funds, which trade using computer algorithms, have been on the forefront of hiring these types of candidates, other hedge funds that rely on humans to make trading decisions are increasingly upping their quantitative capabilities in order to analyze reams of data faster.

The casual work atmosphere and flexible hours at tech firms such as Google have long been a strong draw, and hedge funds are making an effort to 'rebrand themselves' Besides the increasing amount of perks funds are trying to offer, like revamping their workplace and offering services such as free dry-cleaning, they are emphasizing the amount of money they are willing to spend on technology and the complexity of the problems in financial markets to entice recruits.

“The pitch is . . . this is a very data-rich environment, and it’s a phenomenally well-resourced environment,” said Matthew Granade, the chief market intelligence officer at Point72, Steve Cohen’s $13bn hedge fund.

For the people Mr Granade calls “data learning, quant types”, the harder the problem, the better. “The benefit for us is that the markets are one of the hardest problems in the world. You think you’ve found a solution and then everyone else catches up. The markets are always adapting. So you are constantly being presented with new challenges, and the problem is constantly getting harder.”
hedge_funds  recruiting  uWaterloo  war_for_talent  millennials  finance  perks  quantitative  hard_questions  new_graduates  data_scientists 
august 2018 by jerryking
How I Avoid Confirmation Bias When Investing
Nov 8, 2017 | - The Experts - WSJ | By Ted Jenkin.

(1) Examine all evidence with equal rigor. If you have been sitting on cash during the stock market’s run this year or have been conservative with your investments choices, you may be feeling that you’ve missed out on big returns. And this could lead you to jump into some investments simply because you believe that the market highs will continue (and they have, after all), not because they are the right choice for your portfolio. I can remember a few years back when I thought I missed out on the 3-D printing run when those stocks were blazing.

You need to try to avoid such tendencies to accept confirming evidence without question by looking for real empirical data and evidence–and examining the evidence on both sides with equal rigor. For instance, consider whether the U.S. market is a better bet than international right now. Or, how the GOP tax plan will impact the markets. Make sure you ask yourself the tough questions.

In my case, I forced myself to first consider the downsides to investing in the emerging 3-D printing industry or what consolidation might happen along the way–and the effects it could have on the stocks I was considering. In the end, I took a pass.

(2) Get someone to play devil’s advocate. It has happened to the best of us, no matter our education or background in investing. You are at a dinner party or having a conversation in the kitchen at work when you hear someone say, “I just made 100% profit buying ABC stock, and this thing is just taking off.” When we hear of opportunities to make money, our interest is undoubtedly piqued. And if you hear a tip from a person you trust and like, chances are you will become convinced that it is, of course, a good idea.

Do yourself a favor and find someone you trust just as much to play devil’s advocate and argue the opposite. Ask the person to build a counter-argument using questions such as: What is the strongest reason to do something else? The second strongest reason? The third? What is the worst-case scenario? And can you live with it, if it happens? Then, consider this position with an open mind.

For me, it was a former boss. At times, I would grow frustrated with him because on the surface he would never agree with me when I presented an idea. Over the years, however, I realized it wasn’t really him challenging me as much as it was him challenging me to challenge my own thought process so I could be a better decision maker. His sage advice has made me a better investor today.

(3) Be honest with yourself about your motives. Have you ever heard the saying, “If you can see John Brown through John Brown’s eyes, you can sell John Brown what John Brown buys?” I think it applies to the way I’ve looked at investments in the past–and the motives behind my decisions. We often don’t realize the power of our own motives–and we aren’t honest with ourselves about what they are.

For instance, when I’ve made money in a stock in the past, I’ve felt that those gains justify holding onto to the stock for the long term–even if the stock isn’t performing as well as it once did. So now, when I start doing research about that stock’s prospects, I need to make sure that I am really gathering information to help figure me out the right time to sell the stock. This will help me to determine whether any long-held desire to keep an investment is rooted in sound financial reasoning or is just based on pride or another emotion.

(4) Don’t ask leading questions. One of the biggest mistakes you can make as an investor is to ask questions that set you up to get the answer you want–not the answer you need.....if you find that your financial adviser always agrees with your investment ideas, it may be time to find a different adviser. Healthy and heated debates with my adviser have allowed me to make better personal and business decisions over the years.
personal_finance  investing  confirmation_bias  questions  financial_advisors  worst-case  devil’s_advocates  biases  self-delusions  motivations  hard_questions  counter-arguments  red_teams  open_mind 
november 2017 by jerryking
A rigorous Canadian innovation policy needs to be able to evolve and pivot - The Globe and Mail
BILAL KHAN
Contributed to The Globe and Mail
Published Friday, Apr. 15, 2016

++++++++++++++++++++++
But a big part of the problem is our knee-jerk reaction to expect governments to provide the solutions. Need corporate R&D? Ask Ottawa for more tax credits. Lacking venture capital? Insist tax dollars are put into a fund. Want more high tech? Demand provincial governments to spend more on university research.

Good public policies can certainly nudge us in the right direction, but it’s lazy to sit back and wait for government to solve the problem. The truth is that tax credits and research subsidies do not drive innovation. Curiosity drives innovation.

Maybe we’re asking the wrong question. Instead of “what policy can drive innovation?”, we need to ask “how can we become a society of inquisitive individuals?” That’s a more difficult question. It is too simplistic to call for more creativity in the classrooms, but surely strong literacy skills at an early age form the bedrock of curiosity and innovative thinking in adulthood. Children who are encouraged to read, to question, to wonder and to imagine will carry those abilities with them into adulthood.

++++++++++++++++++++++
innovation  innovation_policies  public_policy  agility  risk-taking  Todd_Hirsch  curiosity  organizational_culture  inquisitiveness  questions  bottom-up  hard_questions  asking_the_right_questions  tax_codes 
april 2016 by jerryking
The Piscivore's Dilemma
May 27, 2015 | | Outside Online | By: Tim Zimmermann

The oceans are in serious trouble, creating a tough question for consumers: Should I eat wild fish, farmed fish, or no fish at all? The author, a longtime student of marine environments, dove into an amazing new world of ethical harvesters, renegade farmers, and problem-solving scientists. The result: your guide to sustainably enjoying nature's finest source of protein.
fish  fishing  sustainability  ratings  hard_questions 
june 2015 by jerryking
Susan Taylor Reflects on the Black Lives Matter Movement
January 06, 2015 | | Essence.com |Essay by Susan Taylor.

ask ourselves the hard questions: Are we doing what's needed to demonstrate that Black life matters? Are we caring well for the gift of our own children? Are we holding accountable our own national, community, fraternal, sororal and faith leaders, requiring that they set aside egos and work in operational unity to develop and deliver a Marshall Plan for our recovery from centuries of brutality and legislated disregard? What is our plan for creating Black-owned businesses in our neighborhoods, top-tier education, and quality housing and health care?
protests  protest_movements  self-help  self-improvement  African-Americans  introspection  self-reliance  self-determination  black-owned  digital_advocacy  hard_questions  Black_Lives_Matter  top-tier 
may 2015 by jerryking
DESIGN: Brand design--the antidote to category camouflage
Jan 9, 2009 | Marketing Week | Andy Black.

As budgets are cut and tough questions are asked, design can make a difference by getting a brand noticed, standing out from the competition and engaging ...
branding  brands  design  commodities  advertising  hard_questions 
december 2013 by jerryking
The future of the Firm
September 21st 2013 | The Economist | Schumpeter.

Life is getting tougher for professional-services firms. Midsized consultancies are already suffering: Monitor Group went bankrupt last year—Deloitte later bought it for $120m—and Booz & Co and Roland Berger are agonising about their futures. If the legal profession is anything to go by, worse is to come: Dewey & LeBoeuf collapsed last year after borrowing heavily in a dash for growth, and other elite law firms are struggling to win business....Are McKinsey’s best days behind it? Two new publications offer some interesting answers. “The Firm”, by Duff McDonald, is a generally admiring book that nevertheless asks hard questions about the organisation’s future. “Consulting on the Cusp of Disruption”, by Clayton Christensen and two colleagues, is a penetrating article in the October Harvard Business Review, arguing that the comfortable world of the strategy consultancies is about to be turned upside down....Eden McCallum cuts costs by deploying freelancers, most of whom once worked for the big three. BeyondCore replaces overpriced junior analysts with Big Data, crunching vast amounts of information to identify trends.
McKinsey  capitalism  professional_service_firms  barbell_effect  HBR  Clayton_Christensen  books  BCG  Bain  alumni  management_consulting  mid-sized  law_firms  hard_questions 
november 2013 by jerryking
Taking One for the Country - NYTimes.com
By THOMAS L. FRIEDMAN
Published: June 30, 2012

"I found myself applauding for Chief Justice Roberts the same way I did for Al Gore when he gracefully bowed to the will of the Supreme Court in the 2000 election and the same way I do for those wounded warriors — and for the same reason: They each, in their own way, took one for the country.

To put it another way, Roberts undertook an act of statesmanship for the national good by being willing to anger his own “constituency” on a very big question. But he also did what judges should do: leave the big political questions to the politicians. The equivalent act of statesmanship on the part of our politicians now would be doing what Roberts deferred to them as their responsibility: decide the big, hard questions, with compromises, for the national good. Otherwise, we’re doomed to a tug of war on the deck of the Titanic, no matter what health care plan we have. "...Our newfound natural gas bounty can give us long-term access to cheap, cleaner energy and, combined with advances in robotics and software, is already bringing blue-collar manufacturing back to America. Web-enabled cellphones and tablets are creating vast new possibilities to bring high-quality, low-cost education to every community college and public school so people can afford to acquire the skills to learn 21st-century jobs. Cloud computing is giving anyone with a creative spark cheap, powerful tools to start a company with very little money. And dramatically low interest rates mean we can borrow to build new infrastructure — and make money.
Tom_Friedman  John_Roberts  U.S._Supreme_Court  judges  politicians  statesmanship  hydraulic_fracturing  natural_gas  cloud_computing  smartphones  robotics  software  interest_rates  infrastructure  automation  constituencies  low-interest  compromises  blue-collar  manufacturers  hard_questions  high-quality 
july 2012 by jerryking
Three tips to improve your listening skills - The Globe and Mail
1. Show respect: To run a complex organization, you must solicit advice from all corners. Let everyone know that you are open to their viewpoints. Being respectful doesn’t mean avoiding tough questions; good listeners routinely ask them to uncover the information they need. “The goal is ensuring the free and open flow of information and ideas,” he writes.

2. Keep quiet: Your conversation partner should be speaking 80 per cent of the time while you limit yourself to about 20 per cent. To make your speaking time count, ask questions that point the other party in the right direction. “That’s easier said than done, of course – most executives are naturally inclined to speak their minds. Still, you can’t really listen if you’re too busy talking.”

3. Challenge assumptions: Good listeners seek to understand and challenge the assumptions beneath the surface of the conversation. Take a tip from baseball manager Earl Weaver, who titled his autobiography It’s What You Learn After You Know It All That Counts.
listening  McKinsey  books  Communicating_&_Connecting  conversations  tips  questions  assumptions  respect  hard_questions 
may 2012 by jerryking
Agenda 2002: Bite this, Canada
Dec 22, 2001| The Globe and Mail pg. A.23 | Edward Greenspon. .

Sept. 11 caused many Canadians to confront hard questions about what matters to them and about the kind of country they want Canada to be. The challenge of 2002, therefore, is to settle on those things that distinguish us -- the areas of sovereignty we truly want to protect and promote in differentiating ourselves in North America and the world.

By and large, these will not be economic, at least in the sense of the old instruments of nationalism. Canadians accept that economic integration provides a net benefit to them and would look askance at policies that impede the free flow of goods, services and people. As Mr. Chrétien put it this week: "You don't need to be anti-American to be pro-Canadian."

So where should we be looking for our national definition? What are the points of departure for a policy that is pro-Canadian without being anti-American?
truth-clarity  ProQuest  Edward_Greenspon  Canada  9/11  cohesiveness  national_identity  truth-telling  hard_questions  policymaking 
october 2011 by jerryking
Crovitz: Facebook's Dubious New Friends - WSJ.com
MAY 2, 2011 WSJ By L. GORDON CROVITZ. The company will
launch in China under Chinese rules.
Facebook has been banned in China since 2009. Its executives are annoyed
that Renren, a mainland knock-off, plans to go public in New York at a
$4 billion valuation. But as the trusted home to more than 500 million
users, how Facebook re-enters China will test the trust people have put
in its services—and in social media generally. By agreeing to operate
under Beijing's rules, Facebook is forcing this hard question: Will
people remain as relaxed about divulging personal information and
beliefs for the social-media benefits of connecting with others if those
others include representatives of police states?

Facebook reportedly will have a mainland partner such as search engine
Baidu. This partner would be the censorship cutout, enforcing domestic
laws and government mandates to turn over information about online users
that has led to many arrests for subversion.
L._Gordon_Crovtiz  Facebook  censorship  China  hard_questions  subversion 
may 2011 by jerryking
Connect with powers that be - and 'influence up'
Friday, Jul. 24, 2009 | The Globe & Mail | by JIM GRAY. (1)
Do your research (2) Think solutions (3) Be certain(4) Anticipate hard
questions (5) Stay optimistic.
managing_up  Jim_Gray  hard_questions  solution-finders 
july 2009 by jerryking
Anticipating Corporate Crises - WSJ.com
SEPTEMBER 22, 2008 | Wall Street Journal | by JOANN S. LUBLIN
and CARI TUNA

Many U.S. boards don't cope well with a crisis. But some directors are
now ratcheting up efforts to anticipate, and avert, trouble. Too many
boards are stocked with poorly prepared directors, who fail to ask
enough tough questions or adequately scrutinize management, governance
specialists say.
Joann_S._Lublin  anticipating  boards_&_directors_&_governance  preparation  risk-management  risk-assessment  scenario-planning  contingency_planning  forward_looking  crisis  hard_questions 
april 2009 by jerryking
Preparing for the Next Crisis: Preventing the Next Fire While This One Blazes
MARCH 12, 2009 WSJ column by by DAVID WESSEL. Identifies some
fundamental questions that should be addressed as officials think
through improvements to the financial regulatory framework.

Preventing all future crises is not the goal. That would be the equivalent of banning stoves and furnaces: We'd have fewer destructive fires but we'd be cold and miserable. The goal is to prevent mishaps from burning down the world economy. Here are three of the threshold questions that need pondering:

(1) Who shall be saved, and who shall be allowed to die?

(2) How paternalistic should regulation be, and who should be the parent?

(3) Can we install air bags in the financial system that deploy automatically?
financial_institutions  frameworks  regulation  David_Wessel  hard_choices  think_threes  financial_system  regulators  questions  crisis  preparation  circuit_breakers  hard_questions 
march 2009 by jerryking
Nouriel Roubini Says Nationalizing the Banks Is the Market-Friendly Solution - WSJ.com
FEBRUARY 21, 2009 | Wall Street Journal | Interview of Nouriel
Roubini by TUNKU VARADARAJAN. Roubini believes that "The problem is that
in the bubble years, everyone becomes a cheerleader, including the
media. This is when journalists should be asking tough questions...
there was a failure there. More financial and business journalists, in
the good years, should have asked, 'Wait a moment, if this man, or this
firm, is making a 100% return a year, how do they do it? Is it because
they're smarter than everybody else . . . or because they're taking so
much risk they'll be bankrupt two years down the line?' In the bubble
years, no one asked the hard questions. A good journalist has to be one
who, in good times, challenges the conventional wisdom. If you don't do
that, you fail in one of your duties."
===============================================
a healthy dose of reality and skepticism is always a good idea.
economics  crisis  ECONOMY  finance  skepticism  nourielroubini  banking  recessions  bailouts  journalists  journalism  nationalizations  hard_questions  financial_journalism  5_W’s  questions 
february 2009 by jerryking

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