UBS: Bitcoin Selloff Was Worse Than Weimar, Crypto Will ‘Never’ Be True Currency
“For context, Bitcoin’s collapse in value in early September was worse than the collapse in the value of the German mark at the start of the Weimar hyperinflation.”
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It’s Time For JPMorgan To Start Trading Bitcoin
Well unless cross-asset volatility picks up in a hurry, it looks like the irony for JPMorgan is that they might want to consider following Goldman over to the crypto “dark side”…
‘The Risk Remains Large’: Updating The VIX ETP ‘Doom Loop’
“With VIX futures several points below their historical average, a several point move would not be a tail scenario.”
Blankfein: Goldman Isn’t ‘Endorsing Bitcoin’ – Until They Decide How Profitable It Will Be
“Still thinking about #Bitcoin.”
‘I’m Inclined To Say It’s Going To Zero’: No Chance Bitcoin Replaces The Dollar
“So is a single Bitcoin worth $500,000, $5,000, $500 or $0? I’m inclined to say $0, especially if Bitcoin’s value depends on it being adopted as a global digital currency to replace dollars. There is no chance whatsoever that Bitcoin can displace the dollar, for the simple reason that it is badly designed.”
Bitcoin Avengers Assemble! B.I.S. Says Central Banks Should Create Their Own Cryptocurrencies
If the crypto crowd wasn’t already incensed enough after a week that saw Bitcoin collapse as much as 30% on signs that China is deadly serious about Beijing’s ongoing shakedown in the space and after Jamie Dimon delivered a truly scathing critique of what he’s calling a “fraud” that’s destined to “blow up,” they can now add the B.I.S. to their list of adversaries.
The Doom Loop Is Back: ‘VIX ETP Risk’ Hits All-Time High
“This vega-to-buy is at a record highs, almost doubling since mid-July on inflows to short VIX ETPs.”
Bitcoin In Free Fall: The Beginning Of The End?
All you had to know was that governments will do what governments have always done when faced with an existential threat.
Them’s Fightin’ Words.
There’s tension in the air.
You Should Have Just Gone To The Bar.
Generally speaking, this week’s theme (reflation back on in the U.S. as stocks, the dollar, and yields all rise in tandem) held, as there was no news “bigly” enough to change the narrative.
Uh-Oh: VIX Explodes To 15-Handle After Call Volume Hit 3rd Highest In A Year
“Probably nothing.”
‘WTF Is This?!’ Investors Dumped Most Tech Stocks Since 2007 Last Week
It was, poignantly, a Captain Picard moment.
Jobs, Central Banks, & A Mushroom Cloud Over Pyongyang: Epic Week Ahead Preview
Well, here’s hoping this week lives up to last week…
Presenting: A Crazy Week In Charts
Ok, well this was an interesting week…
A Nightmare On Wall Street – Updating The Feedback Doom Loop (Again)
Listen, there is a non-negligible chance that you have unwittingly sowed the seeds of this
Wall Street Journal Thinks Armchair Vol. Sellers May Be A Gang Of Silly Idiots
“If volatility is no longer predictable, the “short-vol†strategies used by hedge funds, pension funds and institutional investors—and available through exchange-traded products, too—are riskier than their advocates suggest.”
‘Turbo-Complacency’: Fear Gets A ‘New Dimension’ In Kocic’s Latest Masterpiece
“In the same way a boxer who drops his guard runs a risk of being knocked out, complacent markets are facing a potentially painful encounter with reality.”
A Nightmare On Wall Street – Updating The Feedback Doom Loop
Remember “Investigating The Market’s ‘Nightmare Scenario’”? Of course you don’t. That post is from May
Goldman Answers The Big Question: “Are Volatility Selling Strategies Crowded?”
Fresh off releasing a 28-page report on the low vol. regime called “The Upside Of Boring,” Goldman is out on Wednesday asking an important question: “Are Vol. Selling Strategies Crowded?”Â
The High Risk Of Low Vol: Complacency, Moral Hazard, & Anxiety Attacks
“Complacency has moral hazard inscribed into it. It encourages bad behavior and penalizing dissent – there is a negative carry for not joining the crowd, which further reinforces bad behavior.”
Investigating The Market’s “Nightmare Scenario”
Right, so one thing people are becoming increasingly concerned about is the extent to which
A “Useful Maxim” Before “It All Goes Horribly Wrong”
Hedging is so last … ummm… decade?
As Vol “Re-Enters The Doldrums,” Goldman Weighs In
“Around major political events over the past year implied vol has usually spiked close to the event given late positioning, as being long vol has been a negative carry trade. In the week after these events vol has fallen materially as the events have turned out to be less negative for markets than feared.”
Trader: “The Word Of The Month Is Going To Be ‘Frazzled'”
” The problem is, market pricing notwithstanding, nerves remain frayed. And markets may find that short-term volatility, in both directions, remains higher than is comfortable for most people.”
All Aboard The Geopolitics Train! “Thoughts For The Week Ahead”
All aboard the geopolitical risk train! It took one Brexit, one Trump, a close call
How To Beat Warren Buffett (And SPY) Working Only 40 Days Per Year
Last week in “How To Exploit The Passive Herd With One Simple Strategy,” we highlighted
How To Exploit The Passive Herd With One Simple Strategy
If you frequent these pages, you’re well acquainted with the concept of passive investing and its rise
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