Hi Blizzard,
We haven’t been formally introduced, but I’ll go first:
I’m 853guy - named for my favourtie material for making steel hard-tail single speed mountain bikes from, and used as an anonymous moniker to protect my family from the ridiculousness that is the internet’s inherent lack of privacy. I work in advertising with which I have a somewhat ambivalent relationship, like pina coladas and getting caught in the rain.
Anyway, enough about me. Let me tell you quickly about two of my really close friends, Marc and Iain. One is a quant, who started his own hedge fund before joining SAC Capital and now splits his time between consulting for private banks on data analysis and running his fund; the other is an engineer with several patents related to semiconductors, who has turned down offers from a certain company in Cupertino, California for the sake of his family who are settled here in Europe.
I can say, without neither hesitation nor exaggeration, these two are the smartest guys I’ve ever met in my life. Like, stupidly smart. Just being around them makes me feel clever, and I dropped out of university. In some ways, you remind me of them. But here’s why I really like them…
They’re not theorists. Oh, they have lots of theories about lots of things. But that’s only partially relevant. They’re practitioners. They put their money where their mouth is. Everyday, they either contribute to the bottom line of the companies they work for, or they go find something else to do. That is to say, Marc and Iain’s ideas are only as good as their ability to be concretely monetized, and the only way to do that is through implementation via a strategy of risk in which the outcome is often only partially knowable from the outset. I asked Iain whether he’s ever been asked to implement the very best of his ideas. He said no, the reason being that the best of his ideas are too costly to implement in a real-world situation, and part of being a great engineer is the ability to pursue ingenuity within the context of the companies R&D budget. No one wants the best idea if the best idea bankrupts the company in the process of bringing it to market. Marc, the quant, is constantly balancing up-side with potential down-side, especially given the amount of leverage needed in order to make the trades worthwhile.
Long story short: They don’t spend their time on forums. They spend their time bringing their ideas to market, and letting the market determine whether their ideas have any purchase in a sea of thousands of other competing ideas. Lots of smart people have lots of clever ideas (especially trading ideas) but few of those are actually implemented by people with skin in the game. Lawrence Dickie has skin in the game. I like a lot of your ideas, but whether you’ll be known best for the number of revolutionary products in customer's homes, or your total post count on various forums as yet remains to be seen.
In all sincerity, I wish you the best of luck.