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Ivan on Tech lost high seven figures in at one point since he started trading in 2013. He made it back in the bull market that followed but the scars are still there. And that's exactly why he can warn you about the mental prison of holding altcoins in...

14,061 views • 6 months ago •via X (Twitter)

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Denzel Washington’s epic monologue towards the end of Training Day was largely improvised on set. Director Antoine Fuqua was so blown away by his performance, he says he thinks he "forgot to yell cut”. He explains… “That’s Denzel. He was just in his zone. I mean, that was one of those moment...people talk about AI. Those are the moments where you go...it's a great tool. It's gonna be a great tool, I think...but the emotion, and the moment that an actor can bring - you can't predict that. That's something that's just inside of Denzel. And when that came out, I was just like - I hope I got it. I just turned to my operator - who was shaking- I looked over at the guy - I was like, “please tell me you got that.” Because that was the take. That was it. There was no other take - I mean, how do you tell an actor like that, that that wasn't good enough? …He walked over to me, and he just had this look in his eyes. I was like, “you good?” He said, “you good?” I said, “Yeah…” Some of that was in the script, but he flipped it the way he did it. "Putting cases on all you." He kind of added some things in there. And then he just went into a whole other zone with the whole King Kong thing- with Pelican Bay - Denzel started that. That was Denzel. That was him, man. He just kind of lit up, and I think I forgot to yell cut. I was just watching it, because everybody started walking away, and I'm just watching him, and then he lights a cigarette - and he's talking - and I'm just watching him. I think at some point he probably looked at me like, you going to cut? And I'm like, “oh yeah, yeah, cut.” He was still in it. That's the thing with Denzel. He was so Alonso…I'm just watching him for a while because I didn't know what else he was going to do. It was just so magical. And then I think he looked up at me and I was like, “Okay, cut, cut.”

Gangster Cinema Central

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In 1988, Jim Simons flew to Berkeley to beg a math professor to fix his hedge fund. The professor had never traded a stock. He had spent his career on coding theory and mathematical board games. He agreed to help on the condition he could leave when he wanted. He delivered 55 percent net in his full year running it. Then he handed the whole thing back and went home to teach undergraduates. His name was Elwyn Berlekamp. He is one of two people who ever ran what would become the most profitable trading operation in history. Simons was the other one. MIT math PhD, 1964. Berlekamp wrote foundational papers in coding theory that still run every CD, DVD, satellite link, and QR code on Earth. The Berlekamp-Massey algorithm, published 1968, is why every scratched CD you owned still played through to the end. He also co-wrote "Winning Ways for Your Mathematical Plays" with John Conway and Richard Guy. Four volumes. It became the foundational text of combinatorial game theory. Berlekamp thought about board games the way most mathematicians think about theorems. He proved endgame results in Go that professional masters had assumed were unprovable. His 1994 book "Mathematical Go" reduced the last moves of a Go game to a formula. Top-ranked professionals started studying it. Simons had a problem in the late 1980s. His trading partnership was falling apart. The fund was losing money. He flew west to see the game theorist. Berlekamp bought a controlling stake, cut what was not working, and rebuilt the trading logic from combinatorial game theory principles. The fund returned 55 percent net after fees in his full year running it. In December 1990, Berlekamp sold his stake back to Simons and walked out. He wanted to go back to Berkeley. In interviews he said the same thing many times, in different words: Berkeley was where he belonged. Simons kept building on the system Berlekamp rebuilt. It became the Medallion Fund. Over the next 30 years, Medallion compounded at roughly 66 percent gross per year. It is the most profitable trading strategy in the history of finance. Berlekamp took his cut in 1990 and never went back. He spent the rest of his life at UC Berkeley. He gave a lecture called "Mathematics and Go" that is on YouTube. He died in 2019, aged 78. The paradox is not that Berlekamp made a fortune. It is that he had the door to the biggest fortune in trading history held open for him and walked out. The math was fun. The billions were not.

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