Jeff Park | Private

Partner ParaFi Capital | Advisor Bitwise & Solana.
Radical Portfolio Theory Heretic | Ex Morgan Stanley & Stanford. Views are my own. NFA

[Jeff Park | Private @dgtl1001]

In crypto, we often talk of 'impermanent loss' in the context of constant product swaps but ive been thinking recently about what might be the nature of 'permanent loss' and its associated hedges in comparison.

[Jeff Park | Private @dgtl1001]

So in a lot of ways and for many, for many tasks, we could say that we’ve already achieved AGI” —Jensen Huang on Nvidia earnings call 8/26/2026..

[Jeff Park | Private @dgtl1001]

US AIMS TO REVIVE CIVIL WAR-ERA COURT TO CLAIM IRAN OIL AS PRIZE: BBG

[Jeff Park | Private @dgtl1001]

“I use AI to write like I use my calculator to do math” fundamentally misunderstands the human desire for truth seeking.

Calculator math is close-ended, with empirically correct answers. Writing is open-ended, with subjectively nuanced answers.

[Jeff Park | Private @dgtl1001]

For all the fraudsters in crypto who cave to the doubters every cycle, people don’t give Saylor nearly enough credit for how unshakably he believes in his mission

When in doubt, just remember error correction is the beginning of infinity.

[Jeff Park | Private @dgtl1001]

The #1 mistake I see among macro noobs is misunderstanding that the carry trade is about income ie spread differential when its about duration ie collateral multiplier

The original sin of MMT voodooism is assuming the cost of entry and exit are the same, as if people are idiots

[Jeff Park | Private @dgtl1001]

We’ve actually already seen how this movie ends before

In fact, it was then called UST for a reason

Do you remember what the last ditch resort was when their Treasury collateral was worthless?

To buy Bitcoin

But it was too late

[Jeff Park | Private @dgtl1001]

There’s pristine collateral everywhere if you only choose to look.

[Jeff Park | Private @dgtl1001]

DCA is often used to express “dollar cost averaging” but another discipline is “don’t chase acceleration”

Different emotions, same outcome…

[Jeff Park | Private @dgtl1001]

TLDR: Maximalists are ultimately just useful idiots, but that’s perfectly okay because our Nash equilibrium is ultimately aligned so we must always respect the game and the part we each play..

[Jeff Park | Private @dgtl1001]

One underrated benefit of social media in the age of social investing: it makes sham companies increasingly easy to spot

You can learn a lot from studying the patterns behind amateur PR strategies by inept charlatans..

[Jeff Park | Private @dgtl1001]

Imagine this was a token

[Jeff Park | Private @dgtl1001]

I’m shaking…

[Jeff Park | Private @dgtl1001]

It’s generally healthy for markets to stabilize after a 3 sigma move, consolidate and then resume. A little drift lower is welcome imo.

Therefore Teddyfuse must return from golfing asap next week and then go to Martha’s Vineyard the following week, for the sake of the industry

[Jeff Park | Private @dgtl1001]

This is another form of intergenerational theft (today’s capital gains extracting future labor gains by working age)

Stealing from the bond market wasn’t enough so they came for young peoples’ stocks

Generational liquidity traps.

[Jeff Park | Private @dgtl1001]

It’s generally healthy for markets to stabilize after a 3 sigma move, consolidate and then resume. A little drift lower is welcome imo.

[Jeff Park | Private @dgtl1001]

Shocking to me that there are career journalists who still don’t understand that the era of FED INTERDEPENDENCE has officially begun

[Jeff Park | Private @dgtl1001]

You can’t underestimate some of the selling pressure of high performing risk assets are purely due to funding the next thing

I’ve seen this happen where best performing hedge funds become liquidity sources for funding others drawdowns.

[Jeff Park | Private @dgtl1001]

While I don’t think we’re quite out of the woods just yet, we are at a point where conditional probabilities are mattering greatly again

This stage is required for models to fully digest then break, which is when volatility will expand and then and only then its full send…

[Jeff Park | Private @dgtl1001]

11 year old Jeff was a wise boy..