PyQuant News 🐍 Profile picture
Dec 22 21 tweets 4 min read Read on X
I'm 43.

If you're still in your 20s or 30s, read this:
1. The compounding effect of doing the same thing over and over for a long period of time is a force of nature. Learn how to compound.

2. Learn how to be comfortable with being uncomfortable. Wealth doesn't accrue to people solving easy problems.
3. As soon as you hit your 30s, you’ll understand. Your 20s actually suck. If you feel like it sucks right now, guess what? It’s supposed to. It gets better.

4. It is very hard to change the world when you are broke. So don't apologize for wanting wealth.
5. In your 20s: Meet everyone. Say yes to everything. You narrow the field later.

6. Do it all. Because you’ll die eventually, and life will make you slow down. But up until then, do all the things. You are in risk-on mode.
7. The most lucrative things you can do in your 20s: 1) learn how to invest, 2) learn the mindset of wealthy people, and 3) learn how to build companies.

8. Not everyone will want to be your friend but that’s a good thing.
9. Never buy to impress. Being wealthy > looking wealthy… even when that first 5-figure check hits your account.

10. The most important question you can ask yourself often: Does this bring me energy? Can I be obsessed over this thin?
11. Do favors, don’t take them. There’s often a hidden price.

12. Work for a company that rewards outcomes not hours. Winning > running really hard for a really long time.
13. Where you live during your 20s matters. Take some time away from your hometown. Go to where people do what brings you energy.

14. If you feel cynical about the world… I don’t blame you. But always remember the number one superpower for your generation is hope.
15. Learn how to grind out solutions to hard problems with other people. A small team with sleepless nights and shared goals is a powerful thing.

16. Touch grass. A walk outside will be better for your brain than anything you find on a screen.
17. Burnout doesn’t come from working too hard. Burnout comes from working too hard on things that don’t light you up.

18. Learn how to save. But understand that saving isn’t what makes you rich. Owning companies is.
19. If you want to make more money, be more useful to people who have more money.

20. You must learn to be disliked or you will find yourself stuck in a prison of other people's beliefs.
21. Most successful people I've met aren't that smart. They move fast, they take risk, they work a lot. That's it.

22. Being rich is awesome. Anyone who tells you otherwise is lying to you.
23. Do something hard every day. Then watch that “something” evolve as you become stronger and stronger.

24. If you haven’t done it, you just have an opinion.
25. Marrying well is the biggest life hack of all. Marrying poorly is a costly path to misery. Choose wisely.

26. Being married is not actually hard, being yourself is.
27. If you’re not weird, you’re probably boring.

28. Do something for someone else. Suffer for the sake of another, you’ll become a better version of yourself.
29. "Don’t recreate the wheel" is the best advice no one takes.

30. Working smarter, not harder, is a beautiful lie. You will not know how to work smart until you've worked very hard for an irrationally long time.
31. Don’t lead with your pain, victimhood is a choice.

32. Take notes from old people: Waking up early, being married, reading books, going to bed at 10 pm, and drinking less is amazing.
33. There is nothing wrong with finding the exit.

34. Read everything, question everything you read.

35. Underrated superpower: Just dumb enough to believe in yourself, just smart enough to execute.
36. The more you do hard things, the more you'll get what you want.

37. If old you doesn’t make you cringe, you haven’t grown enough.
PyQuant News helps you get started with Python for quantitative finance.

There are a few things you can do:

• Reply to this thread with any questions
• Follow me @pyquantnews for more of these
• RT the tweet below to share this thread with your audience
Looking to start using Python for systematic trading?

Here's a free Crash Course with everything you need to get started.

Join the 1,000s of people who finally started with Python after reading it:

pyquantnews.com/free-course

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with PyQuant News 🐍

PyQuant News 🐍 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @pyquantnews

Dec 14
This is Edward Thorp.

The genius mathematician that returned 20%+ over 30 years.

He traded for 19 years, with his worst loss being 1%.

He beat Vegas dealers at blackjack.

His top 7 trading strategies (and how they work): Image
1. Statistical Arbitrage

He used mathematical models to identify price discrepancies between different markets or securities, buying undervalued assets and selling overvalued ones.

2. Quantitative Analysis

Thorp pioneered the use of quantitative methods in financial markets, developing advanced algorithms to analyze market data and identify profitable trades. Image
Read 11 tweets
Dec 7
I spent $90,000 on a master's degree to learn math for finance.

These are the 16 most important stochastic processes for asset pricing (bookmark this thread for later):
1/16 Bessel Process

Models the radial part of a particle's path in motion.

Used to quantify risk in mean-reverting financial instruments.
2/16 Brownian Bridge

A conditional stochastic process with specified start and end points.

Employed for derivative pricing and data interpolation.
Read 20 tweets
Dec 2
It wasn’t until I met an old time options trader that I learned my mistake:

“I make money when others are panicking because they push the prices too far.”

I was trying to data mine strategies.

He was telling me to find inefficiencies.

That’s when everything changed:
When I first started trading, I thought success meant find the perfect trading strategy.

I spent countless hours backtesting, optimizing, and data mining.

I thought I had found the holy grail of trading.

But when I traded my strategy live, I lost money.

Over and over again.
When I started backtesting market inefficiencies, things began to change:

• I stopped focusing on charts
• My backtests were more accurate
• I started making money trading live

Here’s how to build a custom momentum factor, and backtest it, with Zipline.
Read 15 tweets
Nov 28
This is Steve Cohen.

He's America’s most profitable day trader and has a net worth of $19.8B

Here’s his story: Image
Steve grew up in a middle-class family on Long Island with 7 siblings.

He liked sports.

Played basketball, soccer, and golf just like everyone else did.

He developed an obsession for poker, which eventually led him to trade.

Here’s how he got started:
Steve went to Wharton at the University of Pennsylvania and studied economics.

His father put the money for his college tuition in his checking account, and Steve traded that money, but it ended up breaking even by the end of the school year.

Until...
Read 14 tweets
Nov 27
Most investors struggle to find alpha.

So I spent 6 months reading everything I could

• Howard Marks (billionaire)
• Jim Simons (billionaire)
• Goerge Soros (billionairee)

Here's how the billionaires do it: Image
1. Cycles are inevitable:

Market cycles are an inherent part of the economic and investment landscape.

Recognizing this cyclical nature is crucial for investors. Image
Howard talks a lot about cycles.

He credits understanding the credit cycle as one of the most important factors in his success.
Read 14 tweets
Nov 14
I spent the last 25 years wasting my time writing 100,000 lines of code.

Most of the time, it was for analytics apps.

Now I can build 10 apps in under an hour.

All with Streamlit.

Here's the code: Image
Streamlit lets you build beautiful web apps in a few lines of code.

This app downloads stock data and lets you apply technical analysis. Image
First download the tickers for the S&P500. Image
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(