Chaos is a ladder

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Chaos is a ladder

Chaos is a ladder

@mcgill_s

Portfolio construction, equity, risk-management.

Katılım Ağustos 2011
2.4K Takip Edilen626 Takipçiler
Chaos is a ladder
Chaos is a ladder@mcgill_s·
@KlendathuCap Parts of the Shining would be especially cool given the way the Overlook layout defies logic/physics.
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Super 70s Sports
Super 70s Sports@Super70sSports·
What was with our society’s obsession with quicksand when we were kids? At the time I genuinely believed it was one of the world’s leading causes of death. Every birthday marked another 365 days of somehow avoiding quicksand,
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Eric Wallerstein
Eric Wallerstein@ericwallerstein·
stole this from Oxford Economics. EM is getting shellacked when you remove TSMC, Samsung and SK Hynix.
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Eric Nuttall
Eric Nuttall@ericnuttall·
The vociferous Jan Stuart of Piper Sandler, who in one page captures the tweet-driven mental exhaustion many of us are experiencing:
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Jason Z
Jason Z@JasonZX·
美食博主Jensen Huang到台北夜市探店了,还带了媳妇。
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Taya Bass
Taya Bass@travelingflying·
Did someone here see Star Wars: Episode IV – A New Hope in theaters when it came out in 1977?
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The Hormuz Letter
The Hormuz Letter@HormuzLetter·
BREAKING: Iran says contrary to what the US claims, the now fully leaked "Memorandum of Understanding" contains no Iranian commitments to hand over nuclear stockpiles, remove equipment, shut down nuclear facilities, or even commit to not build a nuclear bomb. Instead, all nuclear issues are deferred to a 60 day period of negotiations after signing, per Fars News. For this period to start, the US would need to accept no nuclear commitments from Iran, agree to release $100 billion of Iranian frozen assets, lift the naval blockade, lift all oil and petrochemical sanctions during the negotiation period, pay $270 billion in war reparations, and accept Hormuz under "full permanent sovereign Iranian management and authority" at pre-war traffic levels with no US presence.
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Paul Mahar
Paul Mahar@ides01132013·
@travelingflying I saw Episode V - Empire Strikes Back first before ever seeing episode IV a few years later on VHS. I did listen to Episode IV on vinyl dozens of times before seeing episode V. Kids today have no idea what is was like before all the modern technology.
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Bite-Sized Nostalgia
Bite-Sized Nostalgia@landofthe80s·
Like seriously, who the heck owned this gigantic G.I. Joe toy???
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Deadly Weapons
Deadly Weapons@deadlyweapns·
A technical breakdown of the HDT Hunter WOLF Unmanned Ground Vehicle (UGV). This robotic platform features a lightweight 30mm M230LF automatic chain gun firing 30x113mm armor-piercing rounds.
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Anjney Midha
Anjney Midha@AnjneyMidha·
if you run an ai lab, pls ensure your team has read this before putting any charts out into the world
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Kuppy
Kuppy@hkuppy·
Crude mkt is evolving👇
JH@CRUDEOIL231

Just went through the latest OIES report on what’s been happening in the oil paper market over the last three months. Here’s the breakdown: 1) In a typical geopolitical scare, you'd expect spec money to pile in and send open interest through the roof. Instead we witnessed a complete anomaly: Brent futures open interest absolutely cratered. 2) On the flip side, daily volumes actually went through the roof. It shows everyone was aggressively passing the hot potato intraday to shift risk, but nobody had the stomach to hold overnight exposure. And now even that day-trading volume is drying up fast. 3) Money managers like hedge funds and CTAs live for trading time, arb, and product spreads based on real oil fundies. But once the war sent vol off the charts, it blew straight through their internal VaR limits. Facing massive margin hikes, they were forced into a structural retrenchment. The capital cost of just holding onto those positions became way too expensive. 4) When the geopolitical conflict flared up, North American shale independents found themselves severely under-hedged. As crude prices ripped higher, they panicked to lock in those attractive margins, offloading massive swap volumes to their bank counterparts. This clearing activity forced a structural expansion in the CFTC data, leading to a concurrent spike in swap dealer shorts and offsetting commercial long exposure across the WTI curve. 5) The Brent-WTI blowout triggered by the Hormuz crisis blew the physical arb wide open for moving North American barrels into Europe and Asia. To nail down those arbitrage margins, mega physical trading houses executed a 'Long WTI / Short Brent' spread trade, which acted as a critical floor for WTI open interest. 6) ICE blunt-force doubled Brent margins, while CME played it smart by using its SPAN system to give massive portfolio-based risk offsets on inter-commodity spreads. On a pure capital-efficiency basis, it was a total no-brainer to park your margin in WTI instead of Brent. 7) As open interest fled the futures complex, everyone piled into options to keep chasing directional plays with a hard stop on risk. Going long premium meant your downside was strictly capped at the premium paid—no brutal daily mark-to-market margin calls, which saved your balance sheet flexibility. Operationally, it was a massive relief because you didn't have to stay awake 24/7 babysitting a position overnight. Shorting options, though, was absolute suicide thanks to that nasty convex risk and punishing margin hikes. 8) Trading in ultra short-dated paper absolutely exploded as players scrambled to chase headline risk in real time. This April weekly WTI options saw average daily volumes skyrocket to around 33,000 contracts, up nearly 50% y/y. 0DTE options squeezed their market share up from 25% to 30% of the entire WTI options complex, while 1-3 DTE contracts also expanded their footprint from 34% to 39% #oott #iran

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