Search results

Fair enough. I can appreciate that those types make you angry, me too! At some point I hope you separate that from the technology and people implementing it, who I think you'll find are far more practical and pragmatic. I think you'd find it interesting at the very least.

So is that because realized vol over the weekend is less and the markdown on Fri is correctly reflecting that, which wouldn't seem to be collusion, just good business by MMs?

Thanks for bringing this up by the way, very interesting point.

I look at DB as more like an option play on this. Equal chance they'll kill it or go bust and they're way cheaper than the more solid banks with the same exposure.

Doesn't that provide a statistical edge to anyone who buys end of day on Friday's?

Not to mention what happens when green water hits that door at the aft end of the "hole".

Another report out today, latest delay at Vogtle to cost ratepayers another $1B for the latest 4 month delay. This was a project that was supposed to cost $14B when approved by regulators, now coming in at $27.8B. Oh, and they received a $6.5B loan guarantee from the Department of Energy, so...

Actually there are a lot of potential applications for a block chain outside crypto currency. Definitely well worth the effort of building your own to see how they work. My guess is that this whole thing will end up a bit like the internet. A few early adopters make a bunch of money, every...

I'll start out by saying that I think you deliver well thought out, intelligent commentary pretty universally here and I enjoy reading your posts. Which is why I'm baffled that you seem to always react so reflexively and in a manner that is so at odds with all you other comments when this...

It's actually two pieces of the tax code paired together that they're taking advantage of. The first is that when you die, the assets in your estate are all stepped up to their value the day you died. Any built-in capital gains are instantly erased. The second is that any money you borrow...

You already have to pay all your unrealized capital gains when you renounce your U.S. citizenship. And until you renounce you're liable for U.S. taxes on worldwide income. The the Monaco thing won't work for U.S. billionaires, actually treasury would love for them all to renounce.

Right, and the market quite clearly doesn't agree that IV should be the same at every point on the curve.

I think you ignored my point. If a system doesn't allow for different IVs at different points in the curve, but buyers and sellers will only transact at different IVs at different points in the curve (skew), then the system doesn't work. This system, as described, doesn't work for that reason...

@thecoder, in all seriousness I think your ideas confuse features of market with mistakes that need to be corrected. Let's take skew/smile as an example. Skew doesn't exist because of a market mistake or because the right trading products aren't out there. It exists because at each point in the...

If nuclear plants only came in 30% over cost and nuclear only cost 30% more than solar or wind on a per MWH basis, then perhaps. Facts are that nuclear costs between $110 and $190 per MWH in levelized cost to produce, from existing nuclear farms without the massive development risk. Onshore wind...

Why should we pay 2x to 4x more for nuclear power than wind or solar plus storage....and that's before the cost overruns. Santee Cooper, a monopoly by the way, dropped $9B on the V.C. Summer nuclear plant expansion. Which was originally supposed to cost them $5B. And they have jack to show for...

I've got nothing against taxing billionaires or even me. But this is just not enforceable. Except for publicly traded stocks, the "value" of most assets the rich hold is very arbitrary any time except immediately after sale to an arms length counterparts (which of course is the only time this...

I spent the summer in Romania, you're insulting the intelligence of the Romanian farmer:D

Yeah, the true sign of a troll is their complete inability to even start to address what they're trying to accomplish. Must be a miserable existence, gotta feel a little sorry for them at the end of the day.

That might have explained why people wouldn't accept jobs at the hight of COVID, somewhat, doesn't really explain why people wouldn't accept jobs now. The stimulus money is long gone. The federal pandemic unemployment ended Sep 6th. Food stamps have been around for years. The child tax credit...