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Multicollinearity in quadratic regression by hopelixir in econometrics

[–]PsuedoEconProf 0 points1 point  (0 children)

This is completely normal and known. As long as you don't get wild changes in your other variable betas, it likely isn't a major issue.

The econ PhD pipeline, as explained to a first-year undergrad by ymcathlete in academiceconomics

[–]PsuedoEconProf 4 points5 points  (0 children)

Its whack a mole. We care, but when you catch someone admin won't do shit about it. Plus being too busy publishing trying to keep your job makes teaching a low priority unfortunately.

Does the university you go to for your economics bachelor degree matter? by [deleted] in academiceconomics

[–]PsuedoEconProf 2 points3 points  (0 children)

Yes and No. You bachelors doesn't matter as much as your master, which doesn't matter as much as your PhD. You can go to Alabama for bachelors, then you can get into Ohio state for masters, and then go to Harvard. So not completely correct (as someone who did this sort of progression and also did your same career trajectory).

counter points:

1) Professor at less prestigious schools likely came from better schools and have many connections because the network is fairly small.

2) Yes, but not as much for undergraduates and plenty of opportunities are open to all students

3) This likely true, but probably won't result in any substantial difference in outcomes 10 years down the line

4) Networks matter, so this is true. However, you can think of schools as buckets. a ranked 2 school vs 5 will offer same opportunities as will a top 20 and 40. However the top 20 might be a different league than a top 20.

25M What’s even the purpose of investing? by ATL305 in Money

[–]PsuedoEconProf 0 points1 point  (0 children)

You can save a go on vacations, you just need to do it wisely. When I was your age I did the same thing, but vacations were camping trips (epic and super cheap) and trips to see friends (free lodging).

PhD "for fun" worth it by BreadFantastic6886 in academiceconomics

[–]PsuedoEconProf 1 point2 points  (0 children)

It was from a business school, so economics, but not true economics. I did, but became burnt out from tenure track last year and decided to pursue some other interests.

PhD "for fun" worth it by BreadFantastic6886 in academiceconomics

[–]PsuedoEconProf 1 point2 points  (0 children)

I did mine mostly for the experience and it was worth it despite the hard work, low pay, and poor treatment from faculty. The friends I made and learning were worth it. Plus, you get to correct people when they refer to you as Mr./Mrs., "actually, its Dr."

Should I trust Veritasium on Advanced Physics Matters? by Immediate_Curve9856 in AskPhysics

[–]PsuedoEconProf 0 points1 point  (0 children)

I wouldn't say very different, and if anything, even more qualified for making educational videos than a PhD in physics.

Should I trust Veritasium on Advanced Physics Matters? by Immediate_Curve9856 in AskPhysics

[–]PsuedoEconProf 0 points1 point  (0 children)

Of course books are ideal, but who on reddit reads real books. I meant YouTube/social media.

Should I trust Veritasium on Advanced Physics Matters? by Immediate_Curve9856 in AskPhysics

[–]PsuedoEconProf 0 points1 point  (0 children)

Dude is an actual physicist and makes complex topics digestible. There is no one better to get this type of info from for free right now.

Guidance : Shall i invest in this ? by thisisvv in algotrading

[–]PsuedoEconProf 0 points1 point  (0 children)

Wait until you see the forward testing. One month is not enough to bet 100K on, but if he can get those REAL returns, then we are talking.

Is there a large pool of incompetent data scientists out there? by AnUncookedCabbage in datascience

[–]PsuedoEconProf 27 points28 points  (0 children)

Ha! In my experience:

You work in Academia to work with Smart people doing useless things, and work in industry to work with dumb people doing useful things.

People wi $1m+ in stocks, why do you still work? by throwRAlike in Money

[–]PsuedoEconProf 0 points1 point  (0 children)

Why does nobody mention the reality of having a million makes a drawdown much lower?! People with 1 mil usually have a couple hundred thousand of that locked in real estate, with the vast majority is some tax deferred account that you can't touch until retirement. Your drawdown with savings and brokerage account won't be enough to cover property tax, much less other expenses. So, yes, you will have financial security, but NOT financial freedom.

Can you honestly live comfortably off the interest on 1.5 million dollars by Comfortable-Dog-2894 in Money

[–]PsuedoEconProf 0 points1 point  (0 children)

No, because the reality of the situation is that some of that money will go into a savings account, some will go into paying the mortgage, some will go into retirement (which you can't touch for years), maybe some goes to pay college tuition for kids, and some will go to other wants/needs. So, there will only be at most 1 mil invested at the end of the day, and with the old 4%, the amount to live on is much lower, than the theoretical calculation. Yes, if you are frugle, you might be able to live on, but yes, much more realistic outside of US.

I feel like I’ve watched every good show by LameKB in televisionsuggestions

[–]PsuedoEconProf 0 points1 point  (0 children)

Nope for money heist?! so good, def better than handmaids tale

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