Sublime

Dennis figured out how to profit in the real world from an understanding of behavioral finance decades before Nobel prizes were handed out to professors preaching theory.

That’s why I advocate that new angels do ten small angel syndicates before they start doing direct investing. Beyond the very real chance of getting a positive return on your investment, if you do this hack, you will build your reputation, have a chance to prove your worth to founders, and jump-start your network—all for the bargain price of $25,00

My training as an economist has been of help in one important way: It convinced me that the only information that is of value in a financial market is information that other people don’t have. This means that I don’t have to pay daily, or even monthly, attention to the stock market, since it tells me nothing about whether I should buy or sell. Henc

5 Investment

One man’s liability had always been another man’s asset, but now more and more of the liabilities could be turned into bits of paper that you could sell to anyone. In short order, the Salomon Brothers trading floor gave birth to small markets in bonds funded by all sorts of strange stuff: credit card receivables, aircraft leases, auto loans, health

Sam had no talent for coding—the two closest friends he’d made at MIT were both coders, but he still couldn’t tell a good coder from a bad coder. About trading all he knew was that he was not obviously unqualified to do it. He dropped his résumé with the firms looking for traders. It still felt like a lark. “Someone told me that a lot of physics ma