Bitcoin And Tesla: The ‘Two Poster Children Of Speculative Froth’

“And this next statement is where I am going to get myself into some trouble. I don’t think this speculation was healthy. I don’t view either of these themes as particularly well thought out. Yeah, I know Musk is going to change the world, and we will all be paying for our TSLA Model 3’s in bitcoin. Don’t bother trying to convert me. I think both of these assets are legitimate technologies, but both are priced for an unrealistic reality.”

Read More

‘Game Of Chicken’: Why Do Markets Think They’re So Damn ‘Impervious’?

“If the market is underpricing the uncertainty with respect to the outlook of US monetary policy, we are even more concerned that it seems totally impervious to the risk of two potentially disruptive, if not dangerous, Games of Chicken likely to unfold in the summer and the beginning of the fall.”

Read More

Hypocrisy, Exoneration, And An ‘Unnamed’ Source With My Same Name

If “hypocrisy” works to exonerate people when they’ve done something wrong, then there are a whole lot of small-time drug dealers in jail across this country who would like to understand how it is that a justice system that’s ostensibly concerned with activities that ruin people’s lives somehow managed to collectively avoid putting the entire C-suite at every major bank in prison for a thousand years after the financial crisis. 

Read More