On election night, Fox News called Arizona very early. This surprised pretty much everyone. The Fox News team had improved their election model in 2020, and was confident their call was correct, even if unconventional.
Conservatives love to complain about the media.
But there's an inside baseball media that reveals how destructive the conservative media criticism environment can be to the conservative movement.
Enter, Fox News:
On election night, Fox News called Arizona very early. This surprised pretty much everyone. The Fox News team had improved their election model in 2020, and was confident their call was correct, even if unconventional.
Who stole the election changed over time. Fox News. Some rando in Atlanta. Poll workers. China.
There was less true uncertainty about who would win at 11:20 PM on election night than in any election ever, because sooooo many votes had been cast early.
Analysts in finance get paid lots of money for that kind of call!
1) Fox News recruited high-quality analytic talent into the conservative movement
2) That talent delivered, providing accurate results faster than competitors
3) Those results didn't fit "The Narrative" that the Trumpist echo chamber wanted
4) Fired
But our media critics really need to pay attention to stuff like this. It's open hostility on even *irrelevant* truth claims.
It didn't matter what Fox called! The results weren't influenced by that!
But in the media-and-commentary-addicted mind of politics-overdosed Trump supporters.... it really mattered what The Media said.
.... but we don't really fund "data stuff." We're more interested in commentary. Do you want to repackage this as some op-eds?
Not quite. They got rid of two people responsible for *reporting* that decision. But the guy who actually *made* the decision - Arnon Mishkin - is still there, afaik. Decision Desk is still sacrosanct, apparently.
— Ezra Glinter (@EzraG) January 22, 2021
More from Lyman Stone 石來民
So a few days back I was tweeting about SSRIs. The big question with these drugs is: why do controlled trials routinely show such small effects when practitioners and patients report life-changingly-large effects?
So first off, at this point the evidence is pretty clear that SSRIs and other anti-anxiety/anti-depression drugs truly don't do very much. Their average effects are beneath clinical significance, as I tweeted about here:
Basically, the problem these drugs face is that while they actually see relatively LARGE effects.... but that placebos in those trials ALSO see large effects (and most untreated depression improves within a year anyways).
So basically you have this problem where:
1. The condition tends to improve on its own in a majority of cases
2. Placebo effects for the condition are unusually large
Which means the large crude effects of SSRIs get swamped.
So that raises two new questions.
1. (Not my focus here) Are we treating these conditions appropriately given their untreated prognosis is usually (though certainly not always!!) "goes away in a few months"?
2. Why are placebo effects so unusually large?
So first off, at this point the evidence is pretty clear that SSRIs and other anti-anxiety/anti-depression drugs truly don't do very much. Their average effects are beneath clinical significance, as I tweeted about here:
What's the best recent empirical assessment of SSRI/SNRI effectiveness which deals with heterogeneity and long-term effects in a plausible way?
— Lyman Stone \u77f3\u4f86\u6c11 (@lymanstoneky) December 4, 2020
Basically, the problem these drugs face is that while they actually see relatively LARGE effects.... but that placebos in those trials ALSO see large effects (and most untreated depression improves within a year anyways).
So basically you have this problem where:
1. The condition tends to improve on its own in a majority of cases
2. Placebo effects for the condition are unusually large
Which means the large crude effects of SSRIs get swamped.
So that raises two new questions.
1. (Not my focus here) Are we treating these conditions appropriately given their untreated prognosis is usually (though certainly not always!!) "goes away in a few months"?
2. Why are placebo effects so unusually large?
Ulysses S. Grant would like a WORD
Or Teddy Roosevelt. Or Dwight Eisenhower. Or Andrew Jackson. Or Abraham Lincoln. Or George Washington. Or Zachary Taylor. Or any of numerous presidents who were honest-to-goodness battle-hardened warriors.
James Monroe fought the Hessians at Trenton and nearly died of wounds sustained there, then wintered in Valley Forge, then fought until Monmouth, then repeatedly tried to raise new regiments for the war until he went bankrupt doing it.
James Monroe, of the Era of Good Feelings, longest serving president of all time.... was in the boats crossing the icy Delaware.
Andrew Jackson was in a duel. He was shot in the chest right by his heart.
But he didn't go down. He stood there and, while bleeding out, steadily took aim and killed the dude who shot him.
Stone cold.
Hogan Gidley: Trump is "the most masculine person to ever hold the White House as the president of the United States" https://t.co/fcoYWyaEhz
— Eliza Relman (@eliza_relman) January 11, 2021
Or Teddy Roosevelt. Or Dwight Eisenhower. Or Andrew Jackson. Or Abraham Lincoln. Or George Washington. Or Zachary Taylor. Or any of numerous presidents who were honest-to-goodness battle-hardened warriors.
James Monroe fought the Hessians at Trenton and nearly died of wounds sustained there, then wintered in Valley Forge, then fought until Monmouth, then repeatedly tried to raise new regiments for the war until he went bankrupt doing it.
James Monroe, of the Era of Good Feelings, longest serving president of all time.... was in the boats crossing the icy Delaware.
Andrew Jackson was in a duel. He was shot in the chest right by his heart.
But he didn't go down. He stood there and, while bleeding out, steadily took aim and killed the dude who shot him.
Stone cold.
More from Politics
39.1% of Democrats think that it's wrong to negatively stereotype people based on their place of birth... AND that Southerners are more racist. https://t.co/yp1hviLuBB
65.2% of Republicans think that people shouldn't be so easily offended... AND that Black Lives Matter is offensive. https://t.co/znmVhqIaL8
64.6% of Democrats think that a woman has the right to do what she wants with her body... AND that selling organs should be illegal.
48.5% of Democrats think that a woman has the right to do what she wants with her body... AND that prostitution should be illegal.
57.9% of Republicans think that people should be free to express their opinions in the workplace... AND that athletes should not be allowed to sit or kneel during the national anthem. https://t.co/ds2ig1NJFr
Democrats: Men and women are equal in their talents and abilities. Also, women are superior. https://t.co/bEFSmqQguo
65.2% of Republicans think that people shouldn't be so easily offended... AND that Black Lives Matter is offensive. https://t.co/znmVhqIaL8
64.6% of Democrats think that a woman has the right to do what she wants with her body... AND that selling organs should be illegal.
48.5% of Democrats think that a woman has the right to do what she wants with her body... AND that prostitution should be illegal.
57.9% of Republicans think that people should be free to express their opinions in the workplace... AND that athletes should not be allowed to sit or kneel during the national anthem. https://t.co/ds2ig1NJFr
Democrats: Men and women are equal in their talents and abilities. Also, women are superior. https://t.co/bEFSmqQguo
You May Also Like
A THREAD ON @SarangSood
Decoded his way of analysis/logics for everyone to easily understand.
Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen
1. Keeps following volatility super closely.
Makes 7-8 different strategies to give him a sense of what's going on.
Whichever gives highest profit he trades in.
2. Theta falls when market moves.
Falls where market is headed towards not on our original position.
3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result
He believes in a market operator, if market mover sells volatility Sarang Sir joins him.
4. Theta decay vs Fall in vega
Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.
Decoded his way of analysis/logics for everyone to easily understand.
Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen
1. Keeps following volatility super closely.
Makes 7-8 different strategies to give him a sense of what's going on.
Whichever gives highest profit he trades in.
I am quite different from your style. I follow the market's volatility very closely. I have mock positions in 7-8 different strategies which allows me to stay connected. Whichever gives best profit is usually the one i trade in.
— Sarang Sood (@SarangSood) August 13, 2019
2. Theta falls when market moves.
Falls where market is headed towards not on our original position.
Anilji most of the time these days Theta only falls when market moves. So the Theta actually falls where market has moved to, not where our position was in the first place. By shifting we can come close to capturing the Theta fall but not always.
— Sarang Sood (@SarangSood) June 24, 2019
3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result
He believes in a market operator, if market mover sells volatility Sarang Sir joins him.
This week has been great so far. The main aim is to be in the right side of the volatility, rest the market will reward.
— Sarang Sood (@SarangSood) July 3, 2019
4. Theta decay vs Fall in vega
Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.
There is a difference between theta decay & fall in vega. Decay is certain but there is no guaranteed profit as delta moves can increase cost. Fall in vega on the other hand is backed by a powerful force that sells options and gives handsome returns. Our job is to identify them.
— Sarang Sood (@SarangSood) February 12, 2020
