In February 2018, Collective2 had a near-death experience. At that time, some of the most popular trading strategies on Collective2 traded “volatility.” To be exact, these strategies bet that volatility would go down, or remain low.*
But in February of that year, volatility exploded upward. Here is a chart showing how “volatility” behaved at the beginning of 2018:
After working for 50 years, and achieving business success most people dream of, my father had a problem. What to do with his money?
Some people dismiss this as a “first-world problem” — not worthy of righteous intellectuals’ concern. But it was still a problem — his problem — and my father wasn’t alone. When interest rates are zero, and inflation is not, putting your money in the bank — whether a thousand dollars, or a million — is the exact mathematical equivalent of asking someone to remove half your cash over the next fifteen years. …
When Americans are children, they learn how business works. You advertise a product. People see your ad, decide the product interests them, and pay you. Win-win: your customer gets a product she actually wants; your business earns income, fair-and-square, enough to let it continue to offer the product to still more people who value it.
That’s how it’s supposed to work, anyway. But what if you’re not allowed to advertise? Or not allowed to talk about what your product actually does?
This is the case in certain industries which society has deemed offensive or troubling. …
When’s the last time we all enjoyed a good “Lazy Stupid Company Destroyed By Tiny Upstart” story? It’s been way too long.
Sure, there was Netflix destroying Blockbuster. Everyone in the tech world liked that one. “Dumb” Blockbuster, which ran thousands of videotape-rental stores, was famously blindsided by nimble Netflix. The story is made even more delicious by the recent revelation that Blockbuster passed on the chance to buy Netflix for a mere $50 million. (Today, Netflix is worth $143 billion dollars.)
And what about Amazon’s beating Barnes and Noble? That was a classic! (If you’re too young to remember…
Hello, Silicon Valley, welcome to my world. The real world.
Welcome to the world of demagogues, of crowds with pitchforks, of mobs with torches. They’re coming for you. Do you hear them? They’re outside your window, braying for blood. Your blood.
For thirty years, you’ve been aslumber, warm in your Palo Alto beds, safe in your knowledge that no politician would bother you. Politicians didn’t care, not because they were too stupid to understand the technology you were creating (although that was indeed the case), but because they thought it was too unimportant to even warrant their attention. It was…
I’m presented with this question a lot.
Actually, “presented” isn’t quite the right word.
The question is not usually “presented” to me.
It is flung — the way dog feces are flung at the neighborhood crank’s house, the night before Halloween.
Sometimes even a friend will muster the courage to ask me the question. It happens usually while he’s drinking, and always with a knowing smirk — the smirk of the high-school debater about to deliver a coup de grâce.
I suppose in this age of Twitter wars and angry Facebook rants, I shouldn’t be surprised when someone comes up…
Do you remember when Western Civilization produced men? I mean real men. Men like Alexander and Napoleon, men like Washington and Churchill, men like Joe Lewis and Babe Ruth.
Men who spit and drank and smoked, men who rode horses. Men who had girlfriends, and also wives; men who scratched themselves, and didn’t give a damn that you saw them do it, because they didn’t even know who you were; men who waddled, yes waddled, when they walked, because they had balls.
What sad specimens we men have since become!
Look at us. Weak and pathetic! “In tune” with ourselves…