Daniel Dulitz

This is one of the most concise tax-rate explainers I've seen. Apples to apples makes for an interesting graph, and a somewhat different narrative than "tax receipts are independent of tax rates" proponents peddle. Reagan presided over one of the biggest tax cuts, and one of the biggest tax rises, ever. The tax rise gets edited out of history for some reason. - Daniel Dulitz

SHOCKER: Dog bites man. - Daniel Dulitz

One of the six people (okay, I exaggerate, maybe five) in the world who seem to understand systemic risk and the actual characteristics of models, what they can do and what they can't. - Daniel Dulitz

This sounds like a good idea for fields in which there is any option. - Daniel Dulitz

Profane but insightful. - Daniel Dulitz

This is a pretty good summary of why HFT could be destabilizing. The problem isn't with low-latency trade execution -- the problem is that there is a particular business model built on low-latency trade execution, and that model interacts poorly with tail risks. Humans are as usual doing poorly estimating or even understanding tail risks. We need a system where firms making bad decisions can be restarted (with the old bums liquidated) without the restart hurting other innocent people. But we don't have such a system today. "A best bid today isn't a bid to own shares at a price, or even a traditional dealer or market maker's attempt to provide liquidity. As much as 50% of the time it's just a firm trying to scalp a few basis points as quickly as possible. When that scalper's bid is executed, it then becomes an unexploded competitive liquidity demand, with the timer set, as Kirilenko found, at about two minutes, or even less." - Daniel Dulitz

It doesn't make sense to me. What's a "scalper" supposed to be? Describe "unexploded competitive liquidity demand"? Their unexplained use of connotative terminology seems highly suspect. - ⓞnor

ⓞnor, there are multiple paragraphs on the definition and connotation of the term "scalper" in the linked article of which this is an excerpt. I do think it's worth reading, and significantly clearer. - Ruchira S. Datta

This is too wonderfully weird not to share. Just as with a horoscope I couldn't help asking myself which language I was really. - Daniel Dulitz

Ladies and gentlemen. My state. Thank you very much. - Daniel Dulitz

Okay, this 2 minute video is really cool. It's an animal... sort of... - Daniel Dulitz

This story really brings the personal and the digital-media together. It's like looking behind the twitter persona to see more of the complete person there. What celebrity journalism should be! - Daniel Dulitz

Exploitation of the people who don't understand by the few people who do. - Daniel Dulitz

Ladies and gentlemen. My state. Thank you very much. - Daniel Dulitz

great! - 9000

I don't generally have the patience for podcasts. This one was AMAZING. - Daniel Dulitz

Lane Wallace is a great aerospace writer, and here I think she's got it especially right. - Daniel Dulitz

There are two arguments in this essay, and their power comes from the fact that the arguments interact in what might be a surprising way... - Daniel Dulitz