Long gamma traders know in their bones tail events are not only more likely but will happen sooner. Bleeding theta doesn’t bother them because the asshole on the other side is a complacent laxbro who will get what’s coming. They have contrarian streaks and Taleb shrines

Long theta traders know in their bones neurotic pussies overpay for metaphysically impossible tail risks. Short gamma doesn’t bother them because the asshole on the other side is an over-Zerohedged paranoiac. They have colossal egos and insurance execs for fathers

The bull case in a nutshell is this: Historically, every $1tn in deficit spending has driven $SPX up 180 points. R-Squared is >90%. Since January 2020, the cumulative deficit has been $9tn. This would suggest ~1,600 more S&P points. The valuation in early 2020 was probably a

Morgan Housel 2. When Peter Lynch got a phone call from Warren Buffett by @fromvalue:

My interview in the Financial Times Financial Times today. Stephanie Kelton: ‘Inflation has come down in spite of the Fed, not because of it’ on.ft.com/48QwhAi

Joao Gomes Another senior Wharton Prof who doesn't understand monetary operations.

JustDario 🏊‍♂️ A satirical version of Nvidia's $NVDA business plan: We sell GPUs to data center customers, booking sales in the P&L and accounts receivables on the balance sheet. We then turn around and commit to purchasing data center capacity from said customers, and agree to buyback "sold"

Professor Chen Zhiwu’s latest comments on A share market went viral in China. “For the mainland, I propose to just shut down the A share market as China has increasingly moved back to a planned economy with resources managed primarily by the state. Given that the state is

Waller doing much of the heavy lifting for FOMC since his arrival at the Board. Don’t miss him on CNBC this morning at 11 AM. 💪

Your lack of decision-making skills is killing your career. (Literally) Here’s what you can do about it. Study these 6 decision models to transform your career and improve your business acumen. 1. The MoSCoW Method 2. The Rational Decision-Making Process 3. The 6 Thinking

Starting 2025, the S&P 500 is at 5882, up 23.3% for 2024. With dividends+buybacks increasing 11.3% & earnings up 9.9%, the equity risk premium stands at 4.33%. Adding in the ten-year treasury rate of 4.58% yields an expected return of 8.91% for US stocks. Damodaran.com

To assess how these trade wars will affect company value, I use the value framework to evaluate the companies most and least exposed to a trade war's effects. bit.ly/41Q8WNh

The biggest investment advantage you can have isn't: Stock picking Market timing Knowing what the Fed will do next It's the ability to keep buying when everyone else is selling.

BUY EVERYTHING CHI-MERICA LIVES!!!!

Deep value guys are built like fridges, worth $10M, wear the same $9 jeans for 12 years, hate everything, haven’t smiled since 2008, and haven’t touched their wives since QE1. But they will die on a hill for a 0.4x P/B stock.

Of course that’s your contention. You’re a first-year deep value investor. You just finished The Intelligent Investor, think net-nets are a cheat code, and you’re tweeting P/B ratios like they’re scripture. Right now, it’s all about Ben Graham, "margin of safety," "cigar

How a book written in 1910 can teach you calculus in 30 seconds: