A year ago I wrote a piece called Capitalism Is a Temporary Condition. Buried in it was a thought: An investor…
In Chapter III of The Theory of Political Economy, William Jevons describes the economic notion of marginal value in 1871. Nor, when…
Back in my SIG days, every trader had a cell on their spreadsheet showing the SPUs (the name for SPX…
In this issue: for when the world slows down family investing webinar futures premium cell Friends, I’m in Vegas with…
I usually have a concrete plan in advance of writing, but today’s letter is totally spontaneous, other than knowing that…
Follows from Part 1: uncovering the laws of nature Friends, In Part 1, I teased that Geoffrey West’s Scale was a perfect surface…
Return Stacked’s RSSB gives you a dollar of global equities and a dollar of Treasuries on the same dollar of…
In this issue: a showdown with yourself unique job opening real-returns trading stock-bond correlation confidence intervals on bounded ranges Friends,…
At the end of July, Dean Curnutt tweeted: The thread should sound familiar. Weeks earlier, Dean tweeted about SNDK vols presenting…
Friends, I’m visiting my family in NJ so Moontower will return August 12th. That said, today is a longer essay.…