The Bigger Short
The Big Short has become a cult classic movie amongst finance guys. Of course, we all know how the story ends, so there’s no suspense. Instead, the movie is a tale of hubris, and the downfall of a bunch of smug guys in suits. Meanwhile, our heroes are the handful of Wall Street misfits who […]
Market History Often Rhymes…
I’m often reminded of how Mark Twain was rather prescient in regards to markets. Let’s reminisce a bit, back to a simpler time, when an obscure entity named Grayscale Bitcoin Trust (GBTC – USA) was hoovering up Bitcoins on a daily basis. I predicted that eventually, it would acquire enough of the “free float” that […]
On Maxing Out Positions…
I believe the vast majority of publicly traded securities are roughly fairly valued. Sure, there may be a 30% or even 50% variance to fair value, but that’s mostly encapsulated in annual volatility. Unless I’m looking at something with an Event-Driven mindset, where my capital turns over rapidly, I’m mostly uninterested in such meagre expected returns. Honestly, […]
