Gary Stevenson clearly cares deeply about inequality, and passionately wants a wealth tax. But he is uninterested in the detail of either the problem or his solution.
He exaggerates his expertise, and his research is sloppy.
Given the size of his audience, that's a shame.
Reading these excellent Betting Ring reports from @SimonNott can sometimes be macabre viewing.
A lot of people view bookmaking as a licence to print money. A lot of people display symptoms of survivorship bias.
It’s not a licence to print. It can often be uncomfortable. Laying (like Backing) invokes all the same emotions whether you’re a Poacher or a Gamekeeper. Do I press on? Do I pull back? Is this a good price or a bad price?
One thing is for certain - this firm have no equals when it comes to laying lumps in the betting ring. They’re in a league of their own with the big bets. Bets I wouldn’t dream of laying they open their shoulders and take them on. This should be lauded.
Sometimes the cookie doesn’t crumble the way you want. I can promise you it’ll be hurting now. But they’ll bounce back and continue to attack.
The schadenfreuders have had their couple of days of fun. But this is a War not a Battle. There’s no room for sentiment.
And this game, now more so than ever, needs its gladiators in the colosseum.