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And is Planck's constant. I think abstractapplic is limiting this to classical mechanics.
That's a complex question. A -value is theoretically useful, but so easy to misuse in this context that I'd advise against it.
Quantitative finance is trickier than the physical sciences for a variety of reasons, such as regime change. If you're interested in this subject, you may enjoy this thing I wrote about the subject. It doesn't address your question directly, but it may provide some more general information to better understand the mathematical quirks of this field.
In addition, you may enjoy Skin in the Game by Nassim Taleb. (His other books are relevant to this topic too but Skin in the Game is the book to start with.)
In this context, I don't think there's a significant difference between "looks efficient to people like [you]" vs "is efficient relative to people like [you]".
But more importantly, the best way for your friend to learn how efficient the market is is by him trying to beat it and failing. He'll learn more about math and markets that way than if he listens to you and stops trying. I think he's making the right decision to ignore you. By paper trading, he can do this without risking significant capital.
As for measuring the quality of a strategy after-the-fact, a good tool is Sharpe ratio.
The existence of people like your friend are why the market looks efficient to people like you.
No idea. My favorite stuff is cryptic and self-referential, and I think IQ is a reasonable metric for assessing intelligence statistically, for a group of people.
You're right. I just like the phrase "postmodern warfare" because I think it's funny.
If you enjoy The Big Short (2015), you may enjoy Margin Call (2011) too. It covers similar territory (what to do in a market crash), but I feel is more professional and dispassionate.
I didn't know about that. That sounds like fun!
This is a quote from George Orwell's unpublished manuscript The Theory and Practice of Algebraic Collections. He eventually split it into two separate novels which did see print. The 2+2=5 stuff went into 1984 and the "some are more equal than others" went into Animal Farm.
If you can let letters mean whatever you want then there's nothing to stop you from doing the same with numerals. Let 5≡S(S(S(S(0)))).