afryer · HackerTrans

2 tahun yang laludiscuss

https://personalmba.com/4-pricing-methods/

This reference book is great, and makes the case that there are roughly 4 broad types of pricing strategies:

1. Replacement cost: How much would it cost to replace/build from scratch?

2. Market comparison: How much are similar products/services selling for?

3. Discounted cash flow / net present value: How much money will this make for the customer in the future discounted to today's dollars?

4. Value comparison: How much 'Value' is the product worth to the customer?

So, the 'Value Comparison' can usually support a much higher price than the replacement cost, market comparison, or DCF. It's worth learning just how 'Valuable' the product/service is to the customer.

The personal mba has a section outlining how customers typically 'Perceive' Value.

https://personalmba.com/perceived-value/

The most valuable offers do one or more of the following:

1. Satisfy one or more of the prospect’s Core Human Drives

2. Offer an attractive and easy to visualize End Result with clear economic values.

3. Command the highest Hassle Premium by reducing the time, money, and effort the customer has to spend getting value from your product.

4. Satisfy the prospect’s Status Seeking tendency by providing desirable Social Signals that help them look good in the eyes of other people.

Good luck!

afryer

2 tahun yang laludiscuss

PersonalMBA really is a my go-to reference because it is very comprehensive and extremely accessible online. First 5 chapters tackle the strategy behind the '5 parts of every business'

1) Value Creation 2) Marketing 3) Sales 4) Value Delivery 5) Finance

The next 6 Chapters deal with the tactics involved in executing that strategy. 6) The human mind 7) Working With Yourself 8) Working With Others 9) Understanding Systems 10) Analyzing Systems 11) Improving Systems

Then If you REALLY wanted to dive deeper, you can read the 99 business books he built the personalmba from: https://personalmba.com/best-business-books/

Josh Kaufman created something great here.

afryer

4 tahun yang laludiscuss

Totally, understand what you are saying and I think you will have success. I'm not saying to necessarily take more risk, I am saying to use 2/3 of capital to get access to tax efficient 60/40 exposure. Then I would look to further diversify. Whether it's munis to capture credit risk premiums, managed futures for commodity risk premiums, or taleb-style option trading for tail risk premiums. I think these simple liquid alternative funds could improve risk adjusted returns for boglehead style X-fund investors and not increase complexity or break the investment philosophy. Happy investing.

afryer

4 tahun yang laludiscuss

Great job sticking to your investment principles. Every investor needs a 'Ulysses pact' that ties them to the ship to prevent the sirens from eating them.

It sounds like your account is mostly taxable, have you ever considered getting your 3-fund exposure through a '90/60' fund like NTSX? The fund uses bond futures to get the increased exposure. It also has some tax efficiencies vs bond etfs. There is a US (NTSX) and International (NTSI) version.

You could allocate 2/3 of the portfolio to NTSX/NTSI to achieve a 60/40 and then have the rest for either opportunistic market timing/security selection ("dry powder") or as an allocation to alternative beta (say something like managed futures, MLPs, private businesses, etc.)

Obviously, taxes are a primary consideration, but I find these types of funds interesting in theory!

afryer

4 tahun yang laludiscuss

tangential resources for nutritional/dietary supplements:

Consumer focus: https://examine.com/ Professional focus: https://naturalmedicines.therapeuticresearch.com/

Both sites maintain nice monographs that curate evidence and provide easy to interpret effectiveness scores.

Natural Medicines database goes even further and maintains a database for commercial products.

I find both incredibly useful for evaluating ingredients and their structure/function effects

afryer

4 tahun yang laludiscuss

High level: https://personalmba.com/management/

Management is the act of coordinating a group of people to achieve a specific goal while accounting for any Change or Uncertainty.

These are the six principles of Management:

1. Recruit the smallest group of people that can do the job quickly and effectively. 2. Communicate clearly the End Result, who is responsible for what, and the current status. 3. Treat people with respect. Use The Golden Trifecta consistently. 4. Create a productive Environment, and then let people do their work. 5. Have an aggressive plan to complete the project, but don’t have unrealistic expectations regarding certainty and prediction. 6. Measure what you’re doing to see if it’s working, and make the necessary adjustments and Experimentations.

Concepts applied: Comparative Advantage, Communication Overhead, Commander's Intent, Reason Why, Bystander Apathy, Golden Trifecta, Importance, Clanning, Environment, Guiding Structure, Cognitive Switching Penalty, Change, Uncertainty, Planning Fallacy, Parkinson's Law, Tradeoffs, Measures, Key Performance Indicators, Economically Valuable Skills, Five Parts of Every Business, Friction (among others)

Medium level: I like the handbook from Gitlab for looking at interesting Management Artifacts you might produce (https://about.gitlab.com/handbook/engineering/)

Low level: Might want to search for curriculum from "Masters of Engineering Management" courses and find role-model mentors. Good luck!

afryer

5 tahun yang laludiscuss

https://news.ycombinator.com/item?id=27453365

Edward Thorpe and Ralph Vince both conclude that the Kelly Criterion in the continuous case is excess returns divided by variance, which is pretty close to the Sharpe Ratio, correct?

Asking to understand better, not to be combative. Your comment made it seem like that formula is way off.

afryer

5 tahun yang laludiscuss

https://ifta.org/public/files/journal/d_ifta_journal_11.pdf

Page 27: Vince(vi) and independently Thorpv(ii) provide a solution that satisfies the Kelly Criterion for the continuous finance case, often quoted in the financial community to the effect that “f should equal the expected excess return of the strategy divided by the expected variance of the excess return:”

f = (m-r) / s^2

so it's Sharpe with variance instead of standard deviation in the denominator, correct?

afryer

6 tahun yang laludiscuss

I recommend the book: Agile Data Science by Russell Jurney[1]. The tech stack is circa 2017, but the chapters on the Agile Data Science Process and Teams are timeless.

He clearly articulates team roles: from Biz Devs, marketers, PMs, UX designers, UI designers, Web Developers, API Engineers, Data scientists, Applied researchers, Platform/Data engineers, QA engineers, DevOps Engineers.

Then he talks about different ways to increase agility by combining these roles into generalists empowered to iteratively explore the "pyramid of data value" until the right product-market fit is found.

Building Data-science Intensive Web Applications is inherently waterfall, not agile, and I find this book to be a fascinating reference.

[1] https://www.oreilly.com/library/view/agile-data-science/9781...

afryer

8 tahun yang laludiscuss

One of my favorite mental models for an entire industry (quant finance):

"'P' Versus 'Q': Differences and Commonalities between the Two Areas of Quantitative Finance"

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1717163

Summary: Quantitative Finance comes down to two tasks: "model the future" (P world) or "extrapolate the present" (Q world).

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