pandaXBT

@CL207 who tf is this woman

chat, send fucking help

no thank you but we will buy twitter for $9.74 billion if you want

Can confirm this story. As head trader at Enron when it filed for bankruptcy, I received many calls from firms that were recruiting. I was busy trying to close out the trading book and wanted to take some time to decide my future so didn’t take any meetings. But Citadel was by far the most aggressive. Other companies set up a few interviews with Enron’s senior people. Citadel interviewed seemingly everyone in the trading operation, all functions at all levels. Citadel's team called me twice but I declined to meet. It was apparent to me that their intent was to reverse engineer the business and I wasn’t going to help them. They knew that people looking for a job, particularly if they didn’t have a fiduciary responsibility to a current employer, would be very free with info. Interview everyone and you get a 360 perspective of the industry, how the business makes money, its competitive edge, who the best employees are, etc. Citadel probably interviewed several hundred Enron employees. In the end, they maybe hired 5. Much more importantly, they built the framework for how to enter the energy business, which, as Ken notes below, has been an enormous success. I did eventually talk with Citadel. On their third call to me, they asked if I would talk with Ken directly. I was at the airport heading to Aspen for a quick industry event. I didn’t know Ken personally but had great respect for what he’d built and so told his rep he could call me when I got back to Houston the following week. She said great, but called back a few minutes later with a question: if Ken flew to Aspen to meet me in person the next day, would I? Out of respect, I said of course. The next day I had a great meeting with him and later that week he offered me a job as head gas trader. I wanted to fully run an operation and thought there was more upside if I could have my own fund so I declined. I ended up building my own firm starting with traders and hiring deep fundamentals expertise. Citadel started with the research (as is their DNA) and built up a trading operation around it. Both models worked fabulously well. I came away from the experience with an even deeper respect for both Ken and Citadel and remain friends with him to this day. I started with a niche, gas trading, built a niche fund and burnt out after 17 years. Ken started with a niche, convert arb, and built one of the most successful financial firms ever and has never tired. blurb below via @ByrneHobart

@tolstoybb simply epic tbh

@game_for_one one of my favourite quotes by Roald Amundsen - 'Victory awaits him who has everything in order, luck some people call it. Defeat is certain for him who has neglected to take necessary precautions in time; this is called bad luck.'

Recently got asked by a friend, what I meant by "Luck favours momentum" in my bio. It’s inspired by Marc Andreessen’s post, "Luck and the Entrepreneur", which outlines 4 types of luck - most of which people misunderstand. Too often, luck is dismissed as pure chance, like Chance I (Blind Luck), where something happens completely randomly - winning the lottery or being in the right place at the right time. But luck isn’t that binary, and as with most things, it’s more nuanced. Chance II (Motion) and Chance IV (Directed Motion) highlight how momentum changes the game. Chance II is the luck you create just by staying in motion. As Charles Kettering put it, "Keep on going, and chances are you will stumble on something". Action generates opportunities, even if they’re accidental. It’s not about waiting for the perfect pitch - it’s about swinging often enough to connect. Motion creates momentum, and momentum attracts luck. Chance IV takes it further: it’s about intentionality. This isn’t random; it’s the kind of luck that shows up because of your unique direction, instincts, and preparation. As Disraeli said, "We make our fortunes and call them fate". It’s the result of moving with purpose, guided by experience and curiosity. The reality is, most of what we call "luck" is the product of effort, awareness, and momentum. It’s not just about being fortunate - it’s about being in motion, paying attention, and staying sharp enough to recognise opportunities when they appear. That’s what "Luck favours momentum" really means: don’t sit still, don’t overthink - just keep moving.

@CL207 some cool trivia on this: these are called gueltas & this is one of the largest in Africa. remains from the middle Holocene (beginning 11,700 years ago) period have been found here. the manure of thousands of camels for hundreds of years have actually turned the water here black

will be continuing this thread as cat spend 10 hours a day on google maps throughout africa (cats latest area of google maps obsession) for now some pictures: east of niger in north chad, the ennedi plateau

@spiderman_cap @TheFlowHorse @donnelly_brent ty

@volatilitypanda @TheFlowHorse @donnelly_brent he writes about it here in the last section spectramarkets.com/amfx/eur-conso…

Trump and Elon are going to end up parting at some point. It is written.

@TheFlowHorse @donnelly_brent was in an AM/FX, post election - @donnelly_brent any memory which?

@volatilitypanda @donnelly_brent Gotta check it out, link?

Gents, quite the morning. I've been inundated by messages, so first thing to say is my utmost apologies if I haven't been able to get back to you. From what I gather, someone has rather bizarrely created a Richard Ptardio crypto-currency and sent me 700 million of these so-called Ptardio tokens. These tokens now seem to be accruing a not inconsiderable amount of value. I thought I'd seen it all, but the markets never cease to amaze! I shall be taking Mrs. P out for lunch now, and I'll come back to this in the afternoon.

@MadMaxEcon @0xaporia also interested, and seconded on the account - great content!

@0xaporia Awesome, super glad I found your account! Can you also reccomend resources for evaluating market risk and btc risk, aka top indicators?

only once every few years do you get the opportunity to buy this band up +100% since August

[🌲] Fed's Powell: Bitcoin is just like gold, except it's digital. Bitcoin is used as a speculative asset; it's a competitor with gold, not the US dollar.

You will look back on your moments of struggle and difficulty as the most beautiful

@tolstoybb Hustler ftw

@cobie @echodotxyz gg

OK the weekend is over, logging off and going back to doing @echodotxyz stuff. Enjoy these days friends, it is a beautiful time, if you made it through these last cpl years then you deserve it

@countdraghula @Citrini7 ty

@Citrini7 tontinecoffeehouse.com/2024/08/26/cor… Great story

truly a tragedy they got rid of onion futures

@Akston_Capital @drewvan_85 anyone got non paywalled link?

@drewvan_85 grantspub.com/conferences/in…

Highlight of Grant’s Conference was fireside chat with Stan Druckenmiller. Summary: •Druck is short bonds right now (15-20% position) due to deficit. Doesn’t know if it will take 6 months or 6yrs to play out •Druck is open-minded about inflation reigniting like in the 1970’s

@tolstoybb how do u know so much about military gear

@yakker112 @blondesnmoney noooo protect them at all costs

@blondesnmoney Hot fx sales girls will be fired under Kamala Harris