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rewriting history ...by liberals


calfoxwc

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Ah ok so cause it's not quite as derogatory as ngr even though ngr was derived from negro. That's your reasoning.

Actually because it's not derogatory at all. No more derogatory than calling me Caucasian. I realize it's fun to make up a different term every couple years and then become outraged when somebody uses another one.

WSS

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I would suggest you have a very misguided view of liberalism.

Only because those guys were liberal in the sense that we use the label here and primarily being the party of change, or progress if you prefer, from the outset.

 

Income inequality is at the heart of their movements. Who do they hate? The bourgeoisie the corporation's the rich the powerful, all those people who are keeping the workers from having their rightful place in society. They hate religion to and outlaw that as soon as they get into power. If Cuba or China or Russia had anything similar to a second amendment that's nipped in the bud for their own safety right? Everyone has free healthcare right? That's the right of the people isn't it? And sure they might use the military to keep weak comrades from bailing on them but that's for the good of society isn't it? The needs of the many outweigh the needs of the few?

And were we talking about rewriting history here?

 

What seems particularly conservative about communist dictators?

 

:)

 

WSS

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What seems particularly conservative about communist dictators?

 

 

Elitism is/was at the heart of those countries, where getting ahead in the country is based exclusively on who you know, not how hard you work or how smart you are. People who are outside of the sole authority's definition of what someone should be - based on the colour of their skin, sexuality, etc - were dealt with in swift and merciless fashion, while crimes against them go unpunished.

 

So, am I describing China or the republican version of the US?

 

Meanwhile, liberalism is not about 'hating' anybody at its core (though I can certainly understand fury against those perpetuating the elitist stranglehold on the upper echelons of society). It's about making sure that everyone has a fair an equal chance to succeed, and that people aren't treated differently based on their identity. So, pretty much nothing like those countries you mentioned.

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Did you really draw a line between the word hatred and fury? Cute. So you think liberalism is just allowing people who have been discriminated against to have a fair shot at the dream of their choice? And the bad guys are the elitists, the rich people, white people, the corporations, the bankers etc etc etc.

That the minority has just too much power and if things were Fair the 99% would be more prosperous.

In other words the bad guys r Batista, tho Czar and Goldman Sachs.

 

Oh yes, and because you don't like them, Republicans...

 

So in other words the elites must be crushed in order to give the 99% a chance to succeed? Not seeing the distinction amigo.

 

What I do see is a coalition of balkanized minorities being told there woes are due to the rich and Powerful (or elites as you choose to label them) and only the revolutionary leaders can avenge that.

 

WSS

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Did you really draw a line between the word hatred and fury? Cute.

No. I said that hatred is not at the heart of being liberal, but I understand why people hate those that oppose the goals of equality and fairness.

 

So you think liberalism is just allowing people who have been discriminated against to have a fair shot at the dream of their choice?

There is no connection between that. It's about allowing everyone to have a fair shot at their dream of choice.

 

And the bad guys are the elitists, the rich people, white people, the corporations, the bankers etc etc etc.

Being rich doesn't make you a 'bad guy' any more than being white does. By most standards, Bernie is a rich white guy but is not the bad guy, is he? The 'bad guys' are the people who are actively working to perpetuate the elitism.

That the minority has just too much power and if things were Fair the 99% would be more prosperous.

The minority being the 1%? If things were fairer, wealth and income inequality would not be skyrocketing in the US.

 

So in other words the elites must be crushed in order to give the 99% a chance to succeed? Not seeing the distinction amigo.

Always black or white, isn't it? Everything is binary. Either one group can be successful or the other can, right? I've no problem with rich people who have actually earned their wealth.

What I do see is a coalition of balkanized minorities being told there woes are due to the rich and Powerful (or elites as you choose to label them) and only the revolutionary leaders can avenge that.

[In other words the bad guys r Batista, tho Czar and Goldman Sachs.]

 

There you go again, trying to draw parallels with people like Castro and insinuating that wanting equality and fairness somehow is evil and must be stopped. What is it about equality exactly that you have a problem with?

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http://www.enotes.com/topics/harrison-bergeron

 

One of my favorite Kurt Vonnegut stories which should in some way explain my take on equality. It can't and shouldn't be forced and differences are natural since people have different abilities Etc.

 

I'll probably get back to it but yes Bernie Sanders is Rich compared to many. We give Millionaires and billionaires a pass as long as they preach the liberal sermon. Ted Kennedy John Kerry the Clintons... It really is laughable.

 

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So you think equality is about penalising smart hard-working people? Well, at the risk of sounding like mr Trump - I'm very smart, and hard working. But I'm not a millionaire, my parents didn't go to university or have fancy jobs. Now, I have a good job as a result of my parents and me working hard to put myself through universities. Should I be punished for that? Absolutely not.

 

This comic explains the concept of equal chance and privilege better than I could.

 

http://thewireless.co.nz/articles/the-pencilsword-on-a-plate

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Yes, that comic has made the rounds.

 

I went to college with a girl in my Theatre classes who's one of the best actresses I've seen, unfortunately she had a mug that would spook a horse.

 

Therefore:

 

Jennifer Aniston must be stopped.

 

By the way yes you're pretty smart, probably smart enough to realize that money might be flowing more in another field? I assume you believe you are smarter than Donald Trump and probably upset that he's rich? Yes, no?

 

WSS

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Yes, that comic has made the rounds.

 

I went to college with a girl in my Theatre classes who's one of the best actresses I've seen, unfortunately she had a mug that would spook a horse.

 

Therefore:

 

Jennifer Aniston must be stopped.

 

By the way yes you're pretty smart, probably smart enough to realize that money might be flowing more in another field? I assume you believe you are smarter than Donald Trump and probably upset that he's rich? Yes, no?

 

WSS

Smarter than Donald Trump? I don't know about that. He probably has a better handle on some things than I do and vice versa. Angry that he's rich? No, not really. It takes a lot for me to get angry. Contrary to what cal would have you believe, being liberal does not automatically mean being emotionally unstable ;)

 

As for money flowing more in another field - I work in finance; it's not all about the money. Money is a useful but not necessary tool in the process of being happy.

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With all due respect if it's not all about money, and that's pretty much how I feel, then what's the point of fighting over inequality?

I can understand how greed and Petty Envy can work its way into a political campaign. Almost everyday I hear music from multi-millionaire artists I consider to be less talented than myself.

 

That's life.

 

On the other hand I'm positive that if I put in a great deal more effort I could be a great deal more successful than I am right now. But I'm doing fine and I'm okay with it.

 

WSS

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.... Seems counterintuitive

I work in finance because I enjoy it. The amount of money I make is a secondary concern, but being that I'm in the field, the amount of money I earn is plenty sufficient for me.

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With all due respect if it's not all about money, and that's pretty much how I feel, then what's the point of fighting over inequality?

I can understand how greed and Petty Envy can work its way into a political campaign. Almost everyday I hear music from multi-millionaire artists I consider to be less talented than myself.

 

That's life.

 

On the other hand I'm positive that if I put in a great deal more effort I could be a great deal more successful than I am right now. But I'm doing fine and I'm okay with it.

 

WSS

I said money's not everything, not that it's nothing. Besides, the money you or I have is probably above and beyond the level at which it becomes critical - that is, once you hit a certain level of being able to afford to live somewhere suitable, feed and clothe yourself sufficiently, money becomes a lot less important. Below that level, it's crucial.

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Come to WV haha. Niggar Bottom and Hollows are pretty common in the rural counties. They are just now getting around to changing them.

ah, I stand corrected. Good that they are changing those names, then...

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I work in finance because I enjoy it. The amount of money I make is a secondary concern, but being that I'm in the field, the amount of money I earn is plenty sufficient for me.

The joke there was that your job is all about money but you said it was unimportant, not that you're lying about your motives for working in Finance

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The joke there was that your job is all about money but you said it was unimportant, not that you're lying about your motives for working in Finance

Oh right, yes, the actual work is all about money. Right now I'm working on implementing the Fundamental Review of the Trading Book. It's regulatory stuff, but quite interesting. Basically, banks have the Trading Book and the Banking Book. The idea is the TB holds the assets that have a short term horizon - things you are holding anticipating a rise in share price in the coming days, for example - while the BB holds things you're holding to maturity, like a long term bond.

 

Per the regulations, risk was calculated in similar methods for both, but with the difference being you use a 10-day horizon (how much might I lose in the next 10 days?) for the TB, and one year for the BB. So naturally, the amount you might lose over a year is more than over ten days. So what do the banks do? List everything in the TB of course, have lower risk charges. This means you needed to retain less capital to cover the potential disasters, and you could invest the 'spare' capital elsewhere to make more money.

 

A few more things are included, such as trying to capture 'wrong way risk' - basically, deciding to hedge something based on a long term correlation which holds under normal circumstances but which under stress breaks, so it *looks* like you're perfectly hedged, but actually when the shit hits the fan, you're fucked.

 

So now there's an additional capital charge based on risk weighting sensitivities, cross correlation, first and second derivatives and also curvature risk (the risk that comes about from using distinct data points, which is all we have rather than a continuous function).

 

Like I said, interesting stuff...for me at least!

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Chris, what did you get your degree in? Debating between getting an MBA or something in finance.

Undergraduate in mathematics and computer science, masters in Risk Management and Financial Engineering (from Imperial College London, here's the course http://wwwf.imperial.ac.uk/business-school/programmes/msc-risk-management/)

 

It depends what you want to do. If you want a quantitative degree that lets you understand the pricing of financial instruments and measurements of financial risk, go for finance (if not a masters course then perhaps a CFA or FRM?). If you want to know the ins and outs of running a large business and everything that comes with it, go for the MBA. If it doesn't fit in to those neat little buckets, I can also try to help on a 'best guess' basis.

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Undergraduate in mathematics and computer science, masters in Risk Management and Financial Engineering (from Imperial College London, here's the course http://wwwf.imperial.ac.uk/business-school/programmes/msc-risk-management/)

 

It depends what you want to do. If you want a quantitative degree that lets you understand the pricing of financial instruments and measurements of financial risk, go for finance (if not a masters course then perhaps a CFA or FRM?). If you want to know the ins and outs of running a large business and everything that comes with it, go for the MBA. If it doesn't fit in to those neat little buckets, I can also try to help on a 'best guess' basis.

I wish to open a lucrative lemonade stand on my front sidewalk.

 

Nah, I already have a technical degree (Bachelors in GIS) and was considering either a total change (masters in finance) or something that would just help me move up into management (MBA). My only gripe/fear with going into finance is that it seems like many of the entry level positions in the U.S. are with companies like Merrill Lynch who want newbies to work on commission without any connections. That seems like a recipe for failure. You may know alternative entry level finance positions that don't have that much risk.

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It depends what you would want to do in finance. In 'sales and trading' it can be a bit like that, very cut throat and sink or swim - those are the guys who used to be waving bits of paper around on the trading floor scream "BUY PORK BELLY! SELL CHINA!"

 

If you go in to the more middle office side, such as risk management, it's a lot more stable, and less of a 14-hour day fueled by red bull and cocaine.

 

Somewhere in the middle is strategy, where you take a more general look - "seems like oil is about to go up/down, we should buy/sell" - and pass the tips on to the traders.

 

Either way, for a huge career change you'll probably end up at the bottom, but once you can show you can do all the things that need to be done in any business - work hard, meet deadlines, do the work assigned to you - things will progress nicely I'm sure.

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It depends what you would want to do in finance. In 'sales and trading' it can be a bit like that, very cut throat and sink or swim - those are the guys who used to be waving bits of paper around on the trading floor scream "BUY PORK BELLY! SELL CHINA!"

 

If you go in to the more middle office side, such as risk management, it's a lot more stable, and less of a 14-hour day fueled by red bull and cocaine.

 

Somewhere in the middle is strategy, where you take a more general look - "seems like oil is about to go up/down, we should buy/sell" - and pass the tips on to the traders.

 

Either way, for a huge career change you'll probably end up at the bottom, but once you can show you can do all the things that need to be done in any business - work hard, meet deadlines, do the work assigned to you - things will progress nicely I'm sure.

Thanks for the info. I am more of a technical guy than I am a glad hander and that might be a road block in going the MBA route.

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If you want to convert, but don't have the time and money to go to uni to retrain, I recommend the CFA courses. They have the same caché as the MBA, but are more on the quant side, while MBA is obviously 'business administration'

 

Sample test:

https://www.cfainstitute.org/programs/cfaprogram/courseofstudy/Documents/sample_level_I_questions.pdf

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