NPV
September Is “Suddenly” Nasty

September Is “Suddenly” Nasty

September Is “Suddenly” NastyOn July 29, I hurriedly wrote an email to the stable (which is our narrow set of clients that keep the lights on over here, we have bills yanno). The title was “We’re gonna party like it’s is 2022.” Here Is The Email I SentClosed list...

Just Flip It Upside Down

Just Flip It Upside Down

Imagine the shock when people found out the earth wasn’t flat. It’s the same as those that didn’t understand the denominator. This was never a surprise to moi, evidence here.No one complains when the volatility goes in their favor. That said, it’s still...

What Did You Think Would Happen?

What Did You Think Would Happen?

What Did You Think Would Happen?IF you saw that interest rates were going higher than expectations, then the losses in risky asset markets (NPV) was clear (but always always uncertain, look at the image at the very bottom).. At that time, the rational decision was...

Just Flip It Upside Down

Oh Snap (chat)!

This Just In: Wharton Professor Subscribes!Not really. I wouldn’t boast about professors from backwater, lower-quality schools (calm down, I’m kidding).Today, Snapchat went down by 40%. It is small and insignificant (unless you are between 15-27 years old, in which...