I am liking this analysis... I studied a lot of math and physics... I learned Black-Scholes because it seemed like an important 2nd-order partial derivative (based on Brownian motion... but I don;t even think that bankers/financers use it.... my impression of bankers is that they are not scientific at all, they are a private-network of money-obsessed Pavlovian dogs.
@sdsa007 There is an opinion that economists are failed mathematicians. Because to earn decent money as mathematician, you have to be top notch. To earn money as an economist, you need to be able to right a few complex formulas to derive some prediction, and then to be able to explain coherently why your previous predictions didn't work.
Thank you, Vladimir, for sharing your experience. I agree with you. Even though money is important there is a point in the level of wealth when we must reevaluate our goals and priorities. Please recommend books you reckon are the most useful to set our goals efficiently.
If we talk about the money from the philosophical point of view, I would recommend stoics - Seneca and Marcus Aurelius. And, of course, Alan Watts: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-khOaAHK7efc.html.
Money is convertible. I have converted it to early retirement before my heart gave out. I have converted it to a new PC and playing the games I love. Don’t pursue money for its own sake, but what it can do for you.
@@Scripter_story Like anything pursuit of money can become an addiction. The difference between $1B and $2B may not be significant, but the difference between $30K and $60K may be the difference of bringing a child into this world. Or achieve another life goal. Malcolm Gladwell explores this idea of tipping points in his book. So, I would say pursue money when it helps you achieve your goals beyond wealth itself is positive. Also, I want to be clear that I know that the USD is not money, but a fiat currency that has absolutely no hard linkage to real money: gold, bread, instant coffee ... It is an abstraction, and you have effectively demonstrated how the abstraction can be unethically manipulated to transfer true value between people who are part of the economy. And you have demonstrated how we have been conditioned to be consumers of new, new, new ... I agree that people need to figure out what they actually need, since carrying debt is going to be really bad and many will need some free cash to prepare yourself for the new economy. But you have also said "it is by design". So, many people are living in permanent states of debt. When will the laws be changed to once again make your progeny responsible for your debts? These are good videos as they raise interesting and dangerous questions (well to someone). Thanks.
@@Scripter_story Hmm a full reply was written. I doubt you deleted it. We are already seeing broad censorship of content creators ... maybe the censorship of comments is just getting started. Nice to in the vanguard of dangerous thoughts. :)
