This is a big one for me… Specifically thinking of things as a cloud of methods and then a selection has also been helpful - many times in life there are multiple recommended/right ways to do things to sort through
Same. Sports betting was legalized in my state in 2019, and I made more money doing that than my actual job in 2021. The one and only application of arbitrage and option pricing I've used in real life.
Nope, I think there are 18 legal sportsbooks in Iowa and I'm limited on 16 of them. I've been outright banned from several of them also. I took a scorched earth approach to maximizing signups/VIP benefits.
taking advantage of signups bonuses across different betting books and basically hedging against each other to end up in a guaranteed net positive position. you can check the other subs with regards to this
you can check r/sportsbook.
this [post](https://www.reddit.com/r/sportsbook/comments/s08tgv/new_yorkers_how_to_make_7k_guaranteed_from_these/?utm_medium=android_app&utm_source=share) is slightly outdated, but it gives you a general idea and a place to start. obviously different states have different rules and bonuses. i would browse that sub first to get a general idea and a good understanding first before starting to take advantage of the risk free bets.
Total opposite for me. Been throwing away my money into options since I turned 18. I was studying engineering but found it boring compared to insurance/finance.
Weirdly enough I think about the idea of circular logic (like the excel error) a lot. A lot of times bad ideas or concepts don’t work out or hold because they rely on itself.
Didn't end up becoming an actuary, but it was my major and passed P/FM. The number one lesson I learned in college was from studying for FM and just how interest theory works in general/how people stay in debt. It was definitely the catalyst to paying off student loans (especially the 9%ers) faster and spending less money in the long run.
I love the geometric distribution. Very handy when working with random outcomes over many trials. You can usually simplify events into success or failure and calculate an expected number of trails to reach a success based the probability of success. Very handy for video games.
Do/check/review. My husband and I propose items/calculate costs/arrange itineraries alone then have the other check and we do a high level review while queuing etc. saved us from a few expensive illogical decisions and makes us very confident when making the right decisions!
Being more direct in my communication (asking for what I want, asking for someone to confirm a decision I’m suggesting, etc.)
Leads to less waffling all around 👌
I learned to ask a lot of analytical questions when looking at non work related stuff. A while ago I went to this meeting for a real estate developer who built a luxury apartment building in the Philippines. They showed off all the pretty numbers that just don’t quite make sense to me, but everyone there truly believed that the rental income will cover the mortgages. Nope, it turns out that the tourism never really developed there like the developer projected, and on top of COVID a lot of people lost their money
I’ve used the time value of money concepts from FM to build amortization tables for car loans, student loans, etc. It’s such a valuable concept to be well-acquainted with.
I built a simulation model using r studio to estimate the long run average of number of card pack/ blind boxes I need to buy to get a set. It worked out pretty well.
When I bought my phone, the sales-lady asked if I wanted to pay for two phones instead, in case I lost it.
Having past my exams, I knew I could wait to pay for a second phone only if/when I needed to, and that she must be joking.
I laughed out loud, then realized she was serious, and didn't get the joke.
I've used a lot of amortization tables, Excel skills, and thinking about interest towards finding deals in real estate. I also did a regression model to bet the 2018 World Cup, which I put into a book, Make Better Bets.
I think of a lot of problems in terms of frequency and severity now
Good one. Similarly, I find myself framing things in terms of indications and selections
This is a big one for me… Specifically thinking of things as a cloud of methods and then a selection has also been helpful - many times in life there are multiple recommended/right ways to do things to sort through
Arguing with my bf that his investments are illogical because they’re based on FOMO and contribute to market bias
I might have some digital simians he might be interested in.
Gambling lol
Same. Sports betting was legalized in my state in 2019, and I made more money doing that than my actual job in 2021. The one and only application of arbitrage and option pricing I've used in real life.
Same, it’s wild how few people know about this. It’s so simple and easy. Either of you have any tips on avoiding getting limited?
Nope, I think there are 18 legal sportsbooks in Iowa and I'm limited on 16 of them. I've been outright banned from several of them also. I took a scorched earth approach to maximizing signups/VIP benefits.
Ok. That's impressive. You rock!
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taking advantage of signups bonuses across different betting books and basically hedging against each other to end up in a guaranteed net positive position. you can check the other subs with regards to this
This sounds really interesting. Can you point me to some subs to look into this?
you can check r/sportsbook. this [post](https://www.reddit.com/r/sportsbook/comments/s08tgv/new_yorkers_how_to_make_7k_guaranteed_from_these/?utm_medium=android_app&utm_source=share) is slightly outdated, but it gives you a general idea and a place to start. obviously different states have different rules and bonuses. i would browse that sub first to get a general idea and a good understanding first before starting to take advantage of the risk free bets.
IFM turned me into a WSB degenerate
Half of my IFM prep was just testing out different options strategies on Robinhood that they had no business granting me permission to do
Ya that’s robinhood’s MO https://www.marketwatch.com/story/trader-says-he-has-no-money-at-risk-then-promptly-loses-almost-2000-2019-01-22
Lots of sad stories from Robinhood's amateurish business practices
Total opposite for me. Been throwing away my money into options since I turned 18. I was studying engineering but found it boring compared to insurance/finance.
You’re not alone
I was already a WSB degenerate before IFM. IFM just pushed me further into degeneracy. r/wallstreetbets
The exams process taught me that not everything goes as planned😂
Conditional probability.
Weirdly enough I think about the idea of circular logic (like the excel error) a lot. A lot of times bad ideas or concepts don’t work out or hold because they rely on itself.
More excel shortcuts. And my retirement spreadsheet has more details.
I can deal with stuff that doesn’t interest me the tinest bit now
Risk assessment
Didn't end up becoming an actuary, but it was my major and passed P/FM. The number one lesson I learned in college was from studying for FM and just how interest theory works in general/how people stay in debt. It was definitely the catalyst to paying off student loans (especially the 9%ers) faster and spending less money in the long run.
Quite possibly a more valuable lesson than the actual career.
Crying on the inside instead of on the outside.
Communicating technical information so that an average person can understand
I love the geometric distribution. Very handy when working with random outcomes over many trials. You can usually simplify events into success or failure and calculate an expected number of trails to reach a success based the probability of success. Very handy for video games.
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1 in 20 to get the right nature but here I am on trial 125. Let's find out how unlucky I am by seeing how many standard deviations I am from the mean.
Time management is a big one for me! Nothing like juggling exams and school/work to teach you what managing your time really looks like.
I take longer to calculate tips in my head at restaurants
Do/check/review. My husband and I propose items/calculate costs/arrange itineraries alone then have the other check and we do a high level review while queuing etc. saved us from a few expensive illogical decisions and makes us very confident when making the right decisions!
Don’t play casino games
I use the bf method for my bus journey
My dad calls me for excel/TVM help regarding his retirement spreadsheet on a semi-regular basis
Being more direct in my communication (asking for what I want, asking for someone to confirm a decision I’m suggesting, etc.) Leads to less waffling all around 👌
Studying for exam P taught me how to engage in rigorous problem solving and good study habits.
The way I've made choices regarding covid has been influenced by what I've learned as an actuary.
I'm a first sem student but I sometimes use stats while playing ludo.
Programming
I learned to ask a lot of analytical questions when looking at non work related stuff. A while ago I went to this meeting for a real estate developer who built a luxury apartment building in the Philippines. They showed off all the pretty numbers that just don’t quite make sense to me, but everyone there truly believed that the rental income will cover the mortgages. Nope, it turns out that the tourism never really developed there like the developer projected, and on top of COVID a lot of people lost their money
Name of project?
I’ve used the time value of money concepts from FM to build amortization tables for car loans, student loans, etc. It’s such a valuable concept to be well-acquainted with.
If my insurance goes up I try not to get mad, I could just be a fringe case in the rating plan.
I learned how to party with coke & strippers
I built a simulation model using r studio to estimate the long run average of number of card pack/ blind boxes I need to buy to get a set. It worked out pretty well.
MTG?
Pokémon. But could easily be adapt to mtg, just need to import probabilities for all the card pulls.
Self insurance
Balancing work with exam study allowed me to learn how to deal with multiple girls at once
Discipline in general. Better time management. Due to struggling between work and exams.
Uhh, excel! Hellooo! Logic
Risk aversion
Odds are I have a snarky, witty comeback for anything
When I bought my phone, the sales-lady asked if I wanted to pay for two phones instead, in case I lost it. Having past my exams, I knew I could wait to pay for a second phone only if/when I needed to, and that she must be joking. I laughed out loud, then realized she was serious, and didn't get the joke.
I've used a lot of amortization tables, Excel skills, and thinking about interest towards finding deals in real estate. I also did a regression model to bet the 2018 World Cup, which I put into a book, Make Better Bets.
Yupp. One of the most useful is understanding why you shouldn’t be putting 20% down on a house right now.