Perhaps the most wild business paper you’ll ever read.
“Examination of the option trading leading up to September 11 reveals that there was an unusually high level of put buying. This finding is consistent with informed investors having traded options in advance of the attacks.”
“The maximum value of this measure for AMR or UAL during the target period is at the 0.99 quantile of its daily distribution and the 0.96 quantile of the distribution of its greatest daily values over four trade date windows.”
TLDR: The level of put buying on American and United Airlines in the days before 9/11 was greater than roughly 99% of all comparable trading days in the historical record.
Fifty years. Same movie. Different ticker.
Gold in the late 70s. Japan in the 80s. Asia in the 90s. The Internet in 2000. Housing in 2006. China in 2008. Biotech in 2015. ARKK, Bitcoin, and now the Magnificent 7.
Every cycle has a story that feels different. Revolutionary. Structural. This time is smarter. This time is permanent.
Price goes vertical. Narratives get louder. Risk management gets quieter.
Then gravity shows up.
The takeaway is not that innovation is fake. It is that parabolic moves rarely sustain without resets. Excess always gets wrung out.
Bubbles are not about bad assets. They are about stretched expectations and crowded positioning.
If you trade long enough, you stop asking “Is this different?”
You start asking, “Where are we in the cycle?”
🚨Miren las tasas de interés por prestamos personales👀👀🚨
El sistema financiero hoy esta redistribuyendo el riesgo (ante el aumento fuerte en la mora)
PD: Hoy con estas tasas activas reales tan altas, el que se endeuda lo hace porque no tiene otra opción (a menos q se comporte de forma "irracional")
Bioceres SA defaultéo 58 millones de dólares a inversores bursátiles y bancos, y cuando lo fueron a embargar solo le encontraron 550 mil pesos en sus cuentas. https://t.co/SXuo1UejHe
@mauroszeta Roban por malicia. Aún ya habiendo robado no le alcanzaba y le quiso dar el culatazo para humillarlo, porque ese es el fin, aterrorizar. El robo es la excusa. Aún así habrá que leer progres diciendo "roban por hambre" "roban por necesidad"
@songsofsyx that's amazing. Thank You!
also, may I ask if we have a way to have different namelists for genders? I check it but it seems not possible. A male and female name distinction would be great.
New Songs of Syx update V70 Riders of Doom is going to come out on December 4, 2025. It will add an enhanced battle AI, cavalry, spearmen, resettlement and more.