prabs
615 posts


Been studying $BLOX mechanics deeply and wanted to share some observations.
The fund harvests roughly 50% annually from its options positions but only distributes 36%. That 14% buffer is what's keeping NAV roughly flat while BTC is down 40% from ATH. The options overlay is absorbing the drawdown in real time. Most holders don't realize this is happening under the hood.
What's interesting is that same buffer works differently depending on the regime. In a bear it's the shock absorber protecting NAV. In a bull it becomes genuine NAV accretion on top of the underlying appreciation. Same mechanism, completely different outcome depending on where we are in the cycle.
The fund is also adapting in real time. BHDG provides tail hedge protection. NGHT reduces daytime BTC volatility exposure. Credit spreads profit when the underlying declines, partially offsetting losses on the bull put book. These aren't random positions. They're building blocks of a more resilient fund.
Given that the fund's primary investment objective is capital appreciation with income as a secondary consideration, I fully expect yield compression over time. That's a feature not a bug. A sustainable 25% yield with contained drawdowns is worth far more than an unsustainable 40% yield that bleeds NAV every bear cycle.
If you're DRIPing through this bear you're buying shares at $15 that the cycle math has significantly higher. The boring weeks are the most productive ones.
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An MIT professor taught the same math course for 62 years, and the day he retired, students from every country on earth showed up online to watch him give his final lecture.
I opened the playlist at 2am and ended up watching three of them back to back.
His name is Gilbert Strang. The course is MIT 18.06 Linear Algebra.
Every machine learning engineer, every data scientist, every quant, every self-taught programmer who actually understands how AI works learned the math from this one man. Most of them never set foot on MIT's campus. They just opened a free playlist on YouTube and let him teach.
Here's the story almost nobody tells you.
Strang joined the MIT math faculty in 1962. He retired in 2023. That is 61 years of standing at the same chalkboard teaching the same subject to 18-year-olds.
The interesting part is what he did when MIT launched OpenCourseWare in 2002. Most professors were skeptical. They worried that putting their lectures online would make their classrooms irrelevant. Strang did not hesitate. He said his life's mission was to open mathematics to students everywhere. He filmed every lecture and gave it away.
The decision quietly changed how the world learns math.
For decades linear algebra was taught the wrong way. Professors started with abstract vector spaces and proofs about field axioms. Students drowned in the abstraction. Most never recovered. They walked out believing they were bad at math when they had simply been taught in an order that nobody's brain is built to absorb.
Strang inverted the entire curriculum.
He started with matrix multiplication. Something you can write down on paper. Something you can compute by hand. Something you can see. Then he showed his students that everything else in linear algebra eigenvectors, singular value decomposition, orthogonality, the four fundamental subspaces was just a different lens for understanding what the matrix was actually doing under the hood.
His rule was strict. If a student could not explain a concept using a concrete 3 by 3 example, that student did not actually understand the concept yet. The abstraction was supposed to come last, not first. The intuition was the foundation. The proofs were just confirmation that the intuition was correct.
The second thing Strang changed was the classroom itself. He said please and thank you to his students. Every single lecture. He paused mid-derivation to ask "am I OK?" to check if anyone was lost. He never used the word "obviously" or "trivially" because he knew exactly what those words do to a student who is one step behind. He treated 19-year-olds learning math for the first time the way he treated his own colleagues. With patience. With respect. With the assumption that they belonged in the room.
For 62 years.
The result is something that has never happened in the history of education. A single math professor became the default teacher of his subject for the entire planet.
Universities in India, China, Brazil, Nigeria, every country with a computer science department, started telling their own students to just watch Strang's lectures. The University of Illinois revised its linear algebra course to do almost no in-person lecturing. The reason was honest. The professor said they could not compete with the videos.
His final lecture was in May 2023.
The auditorium was packed with students who had never met him before. He walked to the chalkboard, taught for an hour, and at the end the entire room stood and applauded. He looked confused for a moment, like he genuinely did not understand why they were cheering. Then he smiled and waved them off and walked out.
His written comment under the YouTube video of that final lecture was four sentences long. He said teaching had been a wonderful life. He said he was grateful to everyone who saw the importance of linear algebra. He said the movement of teaching it well would continue because it was right.
That was it. No book promotion. No farewell speech. No legacy management.
The man whose teaching is the foundation of modern AI just thanked the audience and went home.
20 million views. Zero ego. The entire engine of the AI revolution sits on top of math that millions of people learned for free from one quiet professor in Cambridge.
The course is still on MIT OpenCourseWare. Every lecture, every problem set, every exam, every solution. Free.
The most important math course of the 21st century is sitting one click away from you. Most people will never open it.

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Oh please, don't insult the Third World.
We don't fuck up the rest of the world.
@WhiteHouse
The White House@WhiteHouse
"If you import the Third World, you become the Third World." - President Donald J. Trump
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@NewsWireLK @grok , how many was the lay off for india alone ?
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Oracle has announced mass layoffs, with thousands of employees across the US, India, Canada and other regions notified via a 6 am email that Tuesday would be their last working day. The company cited organizational changes, offering severance packages subject to conditions, as global staff reacted to the sudden move.

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The world is at war.
Superpowers are clashing. Sides are being drawn. Nations are picking teams.
And Sri Lanka?
We just rescued sailors from two Iranian warships and opened Trincomalee harbor to let one dock safely.
No political calculus. No geopolitical posturing. Just humanity.
This is who we are.
A tiny island that has seen its own share of conflict, loss, and recovery and still chooses compassion first.
We welcome strangers. We help those in need. We offer shelter when the world offers chaos.
Hospitality isn't our industry.
It's our DNA.

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Warren Buffett on whether college is worth it:
"I don't even think it's important that every person go to college at all."
Says he wasn't keen on going himself. His dad "kind of jollied me into it."
"It's a big commitment to take 4 years and the cost involved and maybe the loans involved. I don't think it's for everybody. There ought to be a reason you're going. And I didn't really see much reason."
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Everyone needs to be careful where the phone comes from.
Global Surveillance@Globalsurv
BREAKING; CHINESE Tech Giant Huawei Warns ISRAELI Companies Hoarding & Reassembling Outdated Phones to Flood IRAN, AFRICA & ASIA with Cheap Spy Tools Chinese cell and telecommunications firm, Huawei, has issued a warning to its customers that Isreali firms are buying thier older phones and products in bulk and reselling them across the Middle East, Asia and Africa at massive discounts via proxy companies.
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Stanley Druckenmiller on the emotional toll of investing:
“I would literally throw up once or twice a week just from anxiety.”
Says he played the NASDAQ meltup in ’99, sold perfectly in January, then bought the exact top.
“When someone says what did you learn from that, I said nothing. I learned not to do that 20 years before, but I got emotional.”
His advice to money managers: “You’re going to continue to make mistakes. You’ve got a gift. Stop torturing yourself.”
Druckenmiller says he had imposter syndrome for 15+ years.
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Strategy has acquired 1,142 BTC for ~$90.0 million at ~$78,815 per bitcoin. As of 2/8/2026, we hodl 714,644 $BTC acquired for ~$54.35 billion at ~$76,056 per bitcoin. $MSTR $STRC strategy.com/press/strategy…
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