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During a crisis, standard tradfi risk management is to "sell what you can sell." If few other markets are open, then that implies that bitcoin bears the brunt of the selling (not everyone is a hodler). A big drop is likely to scare some of the new ETF holders, so it's not so surprising to see...

No surprise that the instant reaction is to sell risky assets, including BTC. But wars are expensive, and the U.S. Congress shows little fiscal responsibility when it comes to funding various war initiatives, even when the U.S. is not directly involved. How does the U.S. pay for this foreign...

The greed of Wall Street has certainly contributed to the financial mess. More broadly, it's the lack of fiscal discipline by Congress combined with the Fed enabling their lack of discipline by printing money to buy Treasuries. An unsound money system allows this. Under a sound money system...

I don't mind being called a groupie, but I hope the implication is not that I'm a mindless follower. As johnarb pointed out recently, most of us have done our homework, not the least of which is reading several books on the topic (Broken Money is one of my favorites).

I like the high number projections. They give me a non-addictive dopamine hit. From a more practical standpoint, they help me sleep better at night.

I hope you picked a country with a low capital gains tax rate. Bitcoin you can hold forever; this one is getting close to your $1M exit.

For me, not overleveraging is good advice. Tends to cloud my thinking. I couldn't fathom being short. But schizo has incredible discipline and seems to be vigilante watching the chart.

Still trails a little across time because it charges approximately 1% per year expense ratio. Yes, based on futures, but since it rolls over periodically it just takes some out each month and pays dividends.

BITO has a significant dividend yield, about 12.4% the past 12 months. Adding a couple years of that back to your BITO chart and it's about the same as BTC.

Lawrence Lepard of Equity Management Associates loves both. His company's website provides worthwhile commentary/analysis. See https://ema2.com/. I also enjoy his video interviews.

You've influenced more of us than you realize. And for that, I am truly grateful.

The huge growth in passive investing over the last decade would suggest otherwise.

It's incredibly ironic that someone with 22 thousands posts on ET would value the opinion of Malkiel, whose reputation is inextricably tied to the idea that it is impossible to beat the market in the long run after controlling for risk.

Two options to buy an ETF: from the secondary market (for retail and other smallish order sizes) or directly from the ETF fund company. For a big order, you would compare the average cost of potentially going deep into the limit order book vs. what the fund company can offer you via their...

Markopolos was convinced because the strategy Madoff supposedly was running (split strike -- long stock, short call, long put) didn't add up. Markopolos's backtest of the strategy didn't match Madoff's reported returns, and the volumes in the options market were too low to support Madoff's AUM...

Re: cutting rates. It's pretty simple. They can't afford the interest payments on the federal debt. Something's gotta give.

Assume some amount of fraud was associated with Tether at an early stage, meaning some of their tokens weren’t backed by USD. As such, early on, they would avoid an audit. However, the business model now appears to be incredibly profitable, which makes perfect sense as explained by others. With...

In the past, I generally found him interesting because of his unique insights. As far as his take on bitcoin, he conveniently doesn't mention that bitcoin has an enormous level of antifragility (you'd think he'd appreciate that), and it increasingly looks better and better based on the Lindy...

Taleb would be one that went from pro to anti-bitcoin, not that I buy his arguments. https://www.fooledbyrandomness.com/BTC-QF.pdf