AC Pigou

surviving paradise one day at a time.

[AC Pigou @pig0u]

@berniemoreno @SenWarren idiot

[AC Pigou @pig0u]

@VermithorBronze @Langdon316 @fawfulfan “all corporate consumption is a government subsidy”

imagine thinking this 🙄

[AC Pigou @pig0u]

@NVIDIAGeForce GeForce Day

[AC Pigou @pig0u]

@nicochristie @Fundamental would love an invite code

[AC Pigou @pig0u]

@GrandTokamak do you work for a private partnership or publicly traded firm?

[AC Pigou @pig0u]

@greg16676935420 @Aries cookie pls

[AC Pigou @pig0u]

@SecYellen @POTUS @VP please resign

[AC Pigou @pig0u]

@juliey4 yes pls

[AC Pigou @pig0u]

@rbzappCT @FishtownCap @StealthQE4 Terrible take, IRAs allow for at least annual dollar cost averaging and when market draws down you have better buying opportunities… Thinking Gen X got it bad from a markets perspective evidences little financial literacy as we sit here at all time highs, every dip gobbled up.

[Visakan Veerasamy @visakanv]

imo: if you’re deliberate about “doing the reading”, whatever that means for any domain, within a year it’s possible to be in the top ~5% in the scene. This is because 95% of people don’t do the reading

[AC Pigou @pig0u]

revealed preference

[Matt Levine @matt_levine]

imagine having this thesis - "i think maybe one day this team can transform the company and it could work out well in the long term" - and expressing it with two-week call options, love it

[AC Pigou @pig0u]

Investors spend a decent amount of time thinking about how to construct a portfolio with both positive carry and positive convexity.

Turns out all they need to do is get a job managing other investors.

[AC Pigou @pig0u]

@StealthQE4 widget maker says widgets are cool

[PEoperator⚡️ @PEoperator]

Being pessimistic does not make you smarter

[AC Pigou @pig0u]

@ArifHozef sheffield and his son, like the rice brothers, truly stand out as self-dealing grifters but investors love them because they say all the things they wanna hear

[Bucket Shop Capital @bucketshopcap]

Funny thing is how few PMs will raise their hand & take the L, even when it’s actually their fault. Analysts would be blamed & careers threatened. If you want to be more like Buffett, my guidance would be start with the basics like this.

[AC Pigou @pig0u]

@SirBaby6 since most of these are below par, don’t you want them to be called rather than extending into the floating period?

[AC Pigou @pig0u]

@ArifHozef indeed, flows (whether client driven or generalist PM driven) tend to occur at inopportune times for specialists 🤕. plus many use product of spread+duration as a risk metric and that’s highly procyclical: discourages leaning into dislocations / encourages reaching for yield.

[AC Pigou @pig0u]

@ArifHozef are you suggesting (1) that pro-cyclical risk measures are tragically flawed, (2) structural overweights to higher carry but negatively skewed assets should be reconsidered, or (3) both? i’d personally agree with (1) but (2) probably more nuanced.

[AC Pigou @pig0u]

@inner_scorecard @ArifHozef Too many things that sound good and don’t work. Too many folks focused on sounding good instead of doing the right thing. 😮‍💨