18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,158 Blog Posts

The Collapse Has Been Delayed

The inevitable fate of the market lower has been delayed. Out of the gates, stocks jumped, except for oil.

I closed out my hedges and also my growth stocks and kept risk averse names because I’m a fan.

You can trade all you want and even perhaps make some money both long and short. The fact of the matter is, this tape is terrible and the direction is uncertain, which is why I’m opting to not trade big.

In the past after being portfolio jumps, I’ve fallen victim to hubris and underwent severe drawdowns as a result. In a sense I’m applying a Constanza trade here by getting small and hedging at all times, with an emphasis on preservation of capital until I see a fat pitch.

I’m down 12bps as of this post, 56% cash.

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  1. roguewave

    This is what we call a market. Those who do not choose wisely, pay:

    Lehman Brothers : $40B crash, total meltdown of the TradFI (Traditional Finance) economy, govs + central banks have to inject trillions to bail it out.

    Terra : $50B crash, people who took the risk paid for it, no community bail out, crypto keeps working as intended.

    Bank for International Settlements
    The implosion of #TerraUSD and others highlight inherent fragilities in #Stablecoins, which seek to import central banks’ stability, but lack proper institutional arrangements and credibility #BISAnnualEconReport https://bit.ly/3QBjppl

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  2. roguewave

    Instead of selling these bikes, NYC destroys them.
    I’m certain no other bikes will enter the city.

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