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B12: Cobalamin
Functions:
- Brain and nervous system function
- Blood production
- Metabolism of every cell in the body
Sources: milk, cheese, yoghurt, eggs, beef, oysters, shrimp, beef liver, beef kidney
B9: Folate
Functions:
- Repair and formation of DNA
- Production of healthy red blood cells
Sources: orange juice, eggs, beef liver, beef kidney
Here I will build a list of essential vitamins and minerals, and their sources. It is my amended version of the list featured in How to Heal Your Metabolism by Kate Deering. Sources described are for the diet I have designed for myself, and are not exhaustive.
Vitamin B
Consists of eight water-soluble vitamins described below (these cannot be stored in the body)
What asset you measure in and what asset you trade for don't necessarily need to be related.
There is nothing wrong with trading goods for dollars. This is more an argument against measuring the changing value of assets across time in dollars.
I was careful to say "It is important to buy assets for significantly less than you think they are worth". Value is certainly subjective (in the sense that things are valued differently by different people).
As for methods of valuation, there are many out there, each with their pros and cons. Discounted cashflow (DCF) valuations are my preferred method as they directly address the purpose of investing: giving up value today in exchange for more value in the future. The key problem with this is that the future is inherently unpredictable, so building a DCF involves educated guesswork about the future and is inevitably imprecise (varying massively by the nature of the asset... the USD return from a US govt bond is more predictable than the USD return of a tech stock).
The unavoidable flaws in valuation methods are why we should try to buy assets at steep discounts to our valuations of them. The deeper the discount, the bigger our mistake can be without it hurting us.
Thinking in terms of gold is less arbitrary than thinking in dollars because gold is anchored in physical reality, whereas the dollar is anchored in political decree. When you choose to measure your wealth in a unit just because you want to trade for it later, you are prioritising the convenience of a transaction over the integrity of the measurement.
Measurement requires a constant. If you measure a table with a rubber band, the "length" of the table changes depending on how hard you pull the band. The US dollar is that rubber band. Its supply and value are subject to the whims of central bankers, interest rate policies, and the shifting needs of government deficit spending. Gold, however, is a physical element with a high stock-to-flow ratio. Its total supply grows at a very slow, predictable rate that no person can speed up by decree. Measuring in gold allows you to see the real change in an asset's value, independent of the currency’s volatility.
Gold's value is anchored by the arbitrage of mining. If the value of gold rises significantly, it becomes profitable to mine more, which eventually brings the value back into equilibrium with the cost of production. This creates a feedback loop rooted in physics, economics and labour. The dollar has no such anchor; the cost to "produce" a trillion dollars is the same as the cost to produce one dollar: a few keystrokes. Using a unit that costs nothing to create to measure things that require real work is an arbitrary standard.
Dollar-Cost Averaging
Dollar-cost averaging (DCA) is when you invest a fixed amount on a regular basis regardless of market developments.
This practice can work well long term for assets that reflect the value of the entire stock market (or a big part of it).
Long term, we can expect the stock market as a whole to gain value. So if you invest part of your income every month, say, then your position will grow in the long run.
In the meantime, you get to reduce risk by not investing all your money at once. You also get to react to developments that affect the stock market and can decide to interrupt your investment schedule. But I personally like ‘boring’ investment strategies, meaning strategies that are automated and reliable.
I don’t see how it matters for his argument. The value of anything fluctuates.
Wiener’s critique of the dollar applies to gold, too. Both fluctuate. I see no rational preference for gold following from his argument.
Emoji reactions (#2159) are implemented as of ea482fb.
Wiener says the dollar can go up or down in value (usually down; prices usually rise).
He suggests that, due to this volatility, measuring the value of something in dollars is like measuring the width of a physical object using a rubber band. He implies that this measurement is unreliable and arbitrary because you can ‘stretch’ it just like a rubber band.
He concludes that we should measure the value of something in ounces of gold instead.
Am I understanding Wiener correctly?
Funny you bring this up the day gold makes its biggest single-day USD move in history 👀
Some added colour:
https://x.com/philippilk/status/2016089604588290348?s=46
Apparently, stocks have fallen since the dot-com bubble when measured in gold instead of dollars: https://x.com/elerianm/status/1976237139185574170
Some comments suggest measuring stocks in gold is arbitrary, others say this development is simply due to inflation.
Are they right or is this development a deeper sign that the economy is in trouble?
Drugs are a net negative for society.
(This branch of the conversation has been moved to #4137)
The purpose of the law isn’t to minimise negatives and maximise positives. The purpose of the law is to uphold the rights of people.
This is speculation, see #4106. If it really becomes an issue, I can retire the feature or improve it.
I plan to go piecemeal by starting with reactions to ideas as a whole, then maybe to paragraphs/block-level elements down the line.
Would this work better as a criticism of #4058? That way, the relationship between these ideas might be clearer, and there’d be the possibility of a criticism chain.
Related to #4062, making any part of the drug trade illegal just gives gangs and cartels a leg up over law-abiding citizens.
But that way, you pretty much ensure that only scumbags sell drugs. And they definitely don’t care about their customers.