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by badinsie 1331 days ago
do not buy options.
1 comments

Sometimes there the probability is mispriced by a large factor because nobody's paying attention.
LTCM enters the chat. Ruble falls. AI strats say buy all teh rubles. $4 terabucks margin call. Oops.
Hey, I didn't say to use margin!
Darn! Other than magical beliefs in lottery winnings, how else would one acquire the lion's share of the world's liquid capital? I can only think of the brutal triumphalism of differential equation-like scenarios enabling a power-law, winner-takes-almost-all distribution of wealth. I'm sure these honest parties would absolutely never gamify or encourage government corruption to reduce taxes and regulations on themselves to accelerate their dominance. [Bezos likeness here counting money with a cigar and looking like he's having far too good of a time.]