If you have alpha (true skill), leverage makes you rich.
If you have beta (market exposure), leverage just makes you volatile.
If you have negative alpha (you're bad at trading), leverage makes you bankrupt faster.
Many "star" traders in bull markets are just people running 2x or 3x beta who haven't blown up yet.
They look like geniuses on the way up. On the way down, they discover what they actually are.
If there are riots over Karmelo Anthony,
We as a nation are really going to acknowledge this mass issue we currently have in America.
Enough of this bullshit.
Last night, I read the entirety of C.S. Lewis' The Screwtape Letters. It's a novel told in the form of letters written by a demon to another demon instructing him on ways to manipulate his "patient" to do evil.
This one quote sounded familiar.
The West has created an utterly evil state religion where an accusation of “racism” is the gravest offense that can be committed, even worse than rape or murder!
So if police show up at a crime scene and a British boy is bleeding out and an immigrant says the British boy is racist the cops will cuff the dying British boy.
Ideological conditioning and two-tiered policing are glaring symptoms of civilizational decline. They must be rejected across the West.
The United States sends our condolences to the family of Henry Nowak and the people of the United Kingdom at this troubling time.
The only thing that stops violent men from raping you and your society are other men who are equally willing to be violent in stopping the rapists. The West has decided that the highest virtue is to quietly comply with the destruction of your civilization because to do otherwise is bigoted toward the rapists. It really is that simple.
the opposite is actually true.
if you look at chinese sources, they endlessly discuss the strategic implications of the recent american craze for “diversity” as a WEAKNESS. they even have a phrase for it: “社会分裂”, or “social splitting”. Chinese academics inside their elite universities who write in Chinese for PRC government audiences talk about how american diversity erodes social cohesion, lowers trust, and makes governance harder.
There are prominent academics in china who focus on the US who discuss this as a self-inflicted vulnerability… see Diao Daming (刁大明 )at Remin University; he and others openly write about how stupid and suicidal this sort of thing is.
[see: 身份政治、党争“部落化”与2020年美国大选 (Identity Politics, the “Tribalization” of Partisan Conflict, and the 2020 US Election)]
China isn’t importing Indian engineers and “founders”. They’re sending ethnic Chinese students and researchers to US institutions and corporations, then recalling them to the motherland once they’ve learned everything they can.
And they are laughing at us.