The Boring Portfolio Manager
166 posts
The Boring Portfolio Manager
@theboringpm
Surviving Quantamental Global Macro PM at MM HF | PhD ComSci | Msc Applied Mathematics | All opinions are my own |
Boston, MA Katılım Ocak 2022
512 Takip Edilen232 Takipçiler
@MrBlonde_macro I have to get him on The Macro Trading Floor. That would be so cool.
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for good reason this man is a billionaire. i could listen to this all day.
his focus on inside of stock market, leading properties of homebuilders, trucking, cyc/def ratio vs. bond market...couldn't have said any of it better myself.
youtube.com/watch?v=-7sWLI…
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The Boring Portfolio Manager retweetledi
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As a tail risk manager I feel inclined to talk about this. What @CliffordAsness is saying is very true.
I often have investors come to me and when we show them our shocks and slides, I'm often hit with the "But Universa returned 4000%".
Clifford Asness@CliffordAsness
Btw, it’s possible some “trades” returned that much. But it’s very misleading to quote that and not the other massive number of trades that go -100%. This doesn’t mean the strategy is bad (Taleb could never grasp that) just that it’s incredibly misleading to tout that number.
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I am wondering who think it is a good idea to sell crude down here at 116 when gasoline cracks and heating oil cracks are at 60+…
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Solid thread on Chinese Oil Refineries.
Ed Finley–Richardson@ed_fin
🇨🇳 Chinese Oil Refineries #OOTT This year, China is expected to overtake the US as the world’s largest oil refining country. Although China’s bloated, fragmented crude oil refining sector has undergone major changes recently, it remains saddled with overcapacity. Mega thread. 🧵
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Just keeps getting larger and the intraday vol continues to demonstrate the knock on effects that this has.
It’s not to say that this means equities have to crash 10% or spike 10%. But when you see those nasty intraday whips blowing through the order book at key times
Michael Goodwell@MichaelGoodwell
👀 $1.9tln of option notional expires on 20-May 🔹 $460 billion of derivatives across single stocks is scheduled to expire. 🔹 $855 billion of S&P 500-linked contracts will expire. (via GS)
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Ever read an article in Bberg or WSJ about a big fraud and wondered how so many professional investors were fooled?
Well then, this may be the thread for you!
Let's take a look at AllianzGI Structured Alpha in '17 👇🏿
1/n
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Plenty of people are pointing out the big repricing in valuations we've seen this year, which makes stocks look visually ''cheap'' on a multi-year basis.
But equity valuations should not be looked at in a silo.
A short thread on the valuations of the stock market.
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On China, the worst is likely behind us (i) number of new cases is falling, and (ii) road freight is recovering. As per the politburo meeting last Friday, it seems too early for top leaders to give up the 5% GDP bottom line. #china
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According to CCTV, 8 districts in Shanghai have achieved "Dynamic zero", especially rumors that the government will launch "special national debt" again and use it for infrastructure, epidemic prevention, & consumption promotion, which is good for commodities and China A shares.
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This is from a @CliffordAsness note written in 2009 and I think there's a good deal of practical wisdom in this line of thinking for most allocators.
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Who can read Korean, wana help translate this? I got this from a source claiming that @stablekwon closed the company in Korea back in April. I am not speculating just want to validate the facts in this pic. #LUNAtics (FYI - I knew nothing abt them only until a few days ago)
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Very underwhelming. I feel sorry for all who bought into this.
Do Kwon 🌕@stablekwon
1/ Dear Terra Community:
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@Kallang22 Just curious, what’s included? Unfortunately, didn’t manage to find any information on this. 😢
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I would not think of starting a day without the famous tweets and retweets of Kallang. Kallang contains 2 times the same essential nutrients for a whole day on twitter than any other timeline. The benefits are not clinically proven yet but potentially life-changing.
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China Top Leaders want both zero-covid and growth target. 🙃
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@MacroAlf @AndreasSteno Solid stuff! Can’t wait!
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I can't wait for Sunday, when my buddy @AndreasSteno and myself are going to release the premiere episode of The Macro Trading Floor!
This podcast is going to be fun, educational and actionable: one macro investment idea per week!
How is it going to work, exactly?
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