How Markets Work
It’s Not The Merit It’s The Price
The wrong price can ruin a great idea
Latest
Risk and Edge
Understanding Log Returns
The basics of log returns
Options and Volatility
Using Log Returns And Volatility To Normalize Strike Distances
Log returns measure how far strike prices are from the stock price as a function of time and volatility
Risk and Edge
Geometric vs Arithmetic Mean In The Wild
Using SP500 returns to distinguish geometric (compounded) returns from average arithmetic returns
How Markets Work
Trading Is Like Any Other Business
Trading is applying a process to a need or service the market demands
Risk and Edge
Well What Did You “Expect”?
Understand the meaning of "average" when returns compounds
How Markets Work
Practice Second Gear Thinking
Developing a habit of looking past first-order consequences
Options Theory
Understanding Implied Forwards
Learn how to compute the the volatility between 2 expirations
Options and Volatility
Examples Of Comparing Interest Rates With Different Compounding Intervals
Translating rates of return over different time periods
Risk and Edge
Liquidity Ostrich
Thoughts on how we perceive risk and liquidity
How Markets Work
The Paradox Of Provable Alpha
What's more likely to have alpha: systematic or discretionary conditional on you being allowed to invest?
Risk and Edge
Calibrated Confidence
Being a strong bettor requires well-tuned meta-knowledge
How Markets Work
The Investing Version Of “Nothing Good Happens After Midnight”
Don’t obsess about investing beyond the point of diminishing returns.
How Markets Work
Portfolio Theory In The Wild: Funding YouTube Creators
More life-applied portfolio theory
Risk and Edge
An Example Of Using Probability To Build An Intuition For Correlation
How probability relates to correlation
How Markets Work
Trading Is A Team Sport
The lone genius trader is a myth