Salomon Brothers 90-98 Bond Portfolio Analysis Government Desk - Long Bond Trader Derivatives - Short-Dated Options Trading (Head) Caxton Assoc Hedge Fund
Living paycheck to paycheck, I still managed to get by.
Staring into the abyss, I refused to comply.
I've doubted my strength, yet discovered my core,
Pushing forward despite being told to do no more.
This endless cycle may feel futile and grim,
But I'll persist forever, through thick and through thin.
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Magoo
It's awkward to watch you inaccurately summarize the period of outperformance as "6 months out of the last 16 years," only to be corrected by someone humorously calling themselves an "Uninformed Pleb." You present yourself as a knowledgeable figure, yet you appear to lack understanding.
Since 2020, Bitcoin has gained 425% against gold, but the sharp decline from its November 2021 cycle peak has created an opportunity for gold to outperform, a trend that has persisted for nearly four years.
Of course, all of this is nothing that a little 4⃣4⃣4⃣ can't fix.
@JoeCarlasare@dotkrueger@LawrenceLepard
The danger is real. Those who have the "luck" or "knack" or "gift" which allows them to acquire vast wealth are no different than great painters or sculptors or writers or musicians in the sense that their gift is meant to be shared with others.
Automatic difficulty adjustments should take effect, but I have a backup plan with investments in quantum resistance, just in case all of this pushes us closer to that specific event horizon.
If you believe, as I do, that Bitcoin will eventually appreciate to the point where its total market cap surpasses that of gold, why wouldn’t you hope for gold to remain strong? There are three scenarios in which Bitcoin overtakes gold: gold declines in value, gold maintains its current price, or gold increases in value. Which scenario do you think results in the highest valuation for Bitcoin when it inevitably surpasses gold's market cap?
If you hold a call option that extends past the date of an expected peak, it essentially acts as if you also own the put option.
Q: "How's that, Josh?"
A: Here's the explanation.
A call option becomes equivalent to a put option when fully hedged because the hedge (e.g., shorting the underlying asset) offsets the call's directional exposure, mimicking the payoff of a put. This occurs due to put-call parity, where a hedged call's risk profile aligns with a put's, as both can be structured to yield similar outcomes at expiration.
"Explain it to me like I'm a five-year-old."
For a novice, the key takeaway is that a call option that lasts past a big event, when hedged, can protect you or let you profit no matter which way the price moves. It’s like having a ticket that works for both buying and selling, depending on what happens after the event.If this still feels tricky, think of it like having a versatile coupon at the fruit market that lets you either buy apples cheap or sell them high, depending on how the market changes after a big announcement. That flexibility is what makes the call act like a put!
I have done no business relationship with Swan (or Sean). There was zero communication between us prior to the publication of their excellent article. https://t.co/owKr4fzGbW
@dotkrueger I’ll be stepping off the gold rocket ship when Brazil defies the IMF, leaves the BRICS alliance, and embraces Bitcoin over gold. Just watch.