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Hedge funds, slot machines and cycles

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“It's the gradual, slight, imperceptible change in your own behavior and perception that is the product... (when) there's nothing else on the table”

Darn, Lanier really nailed it. An incredibly meticulous and thoughtful person. And yes, he's wealthier than most people in finance.

Negative rates gamma/convexity

Negative gamma and rates convexity has been quite pronounced in the rates market over the past 24-48 hours. Did th...

 

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Hedge funds, slot machines and cycles

Repeating the same cycle of mistakes over again